Real Estate Math
A Rhode Island seller nets $320,000 after a 5.5% commission. What was the original sale price?
A$330,000
B$335,000
C$338,624✓ Correct
D$340,000
Explanation
Net = Sale Price x (1 - 0.055). Sale Price = $320,000 / 0.945 = $338,624 (rounded to nearest dollar).
Related Rhode Island Real Estate Math Questions
- A Rhode Island broker earns a 5% commission on a $320,000 sale. How much is the commission?
- A Rhode Island buyer finances $360,000 at 6% interest (annual). What is the monthly interest for the first month?
- A Rhode Island duplex sells for $450,000. Monthly gross rents are $3,200 per unit (both units). What is the Gross Rent Multiplier (GRM) based on monthly rents?
- A mortgage has a remaining balance of $180,000 at 5% annual interest. What is the interest portion of the first monthly payment?
- A Rhode Island homeowner owes $185,000 on their mortgage. Their home is worth $260,000. What is the loan-to-value (LTV) ratio?
- A Rhode Island investment property generates annual gross rents of $48,000. Operating expenses are $18,000 and vacancy is 5%. What is the NOI?
- A Rhode Island investor receives monthly net rent of $2,000 on a property purchased for $300,000. What is the annual cash-on-cash return if the investor paid all cash?
- A Rhode Island building has 10 rental units, each renting for $1,200/month. Annual vacancy is 5% and operating expenses are $62,000. What is the annual NOI?
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →