Real Estate Math
A Tennessee investor buys a property for $320,000. If the property appreciates 4.5% annually, what is its value after 2 years?
A$334,400
B$344,960
C$349,248✓ Correct
D$337,200
Explanation
Year 1: $320,000 × 1.045 = $334,400.
Related Tennessee Real Estate Math Questions
- A property has an assessed value of $85,000. The assessment ratio is 25%. What is the estimated market value?
- A Tennessee property is purchased for $440,000 with a 25% down payment. What is the mortgage amount?
- Annual property taxes on a home are $3,600. The closing occurs on September 30. Using a 360-day banker's year with 30-day months, how much of the taxes is the seller responsible for (seller pays through day of closing)?
- A seller pays off their mortgage balance of $147,500 at closing. The closing costs paid by the seller total $8,200. The sale price is $235,000. What are the seller's net proceeds?
- A Tennessee property has a list price of $289,000. After negotiation, it sells for 96% of list price. What is the sale price?
- A Tennessee seller nets $248,000 after paying a 6% commission. What was the sale price?
- A 5,000 sq ft lot is being purchased for $12 per square foot. What is the total purchase price?
- An investor wants a 10% cash-on-cash return. They invest $85,000 in down payment and closing costs. The property's annual NOI is $22,000 and the annual mortgage payment is $13,600. What is the cash-on-cash return?
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →