Real Estate Math
A rectangular property measures 180 feet wide by 250 feet deep. What is the area in square feet and acres?
A45,000 sq ft / 1.03 acres✓ Correct
B38,250 sq ft / 1.03 acres
C43,000 sq ft / 0.99 acres
D47,000 sq ft / 1.08 acres
Explanation
Area: 180 × 250 = 45,000 sq ft. Acres: 45,000 ÷ 43,560 = 1.
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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