Real Estate Math
A North Dakota broker's monthly trust account statement shows a beginning balance of $15,000, deposits of $25,000, and disbursements of $18,000. What is the ending balance?
A$18,000
B$22,000✓ Correct
C$25,000
D$40,000
Explanation
Ending balance = Beginning balance + Deposits − Disbursements = $15,000 + $25,000 − $18,000 = $22,000.
Related North Dakota Real Estate Math Questions
- A North Dakota commercial property sold for $1,200,000. The broker charges a 4% commission. How much is the commission?
- A North Dakota apartment building has a value of $750,000. The land is worth $150,000. Using straight-line depreciation over 27.5 years, what is the annual IRS depreciation deduction for the improvements?
- A North Dakota investor expects a 12% return on their investment. They estimate annual NOI of $24,000. What is the maximum price they should pay for the property?
- A property's assessed value is $180,000. The tax rate is 25 mills. What is the annual property tax?
- A North Dakota broker earns a commission of $13,500 on a sale. If this represents 4.5% of the sale price, what was the sale price?
- A North Dakota farmland parcel is described as the SW¼ of Section 14. How many acres does this parcel contain?
- A 7,500 sq ft commercial lot sells for $3.50 per sq ft. What is the total sales price?
- A North Dakota property's assessed value is $210,000. The assessment ratio is 60% of market value. What is the estimated market value?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →