Real Estate Math
What is the monthly principal and interest payment on a $260,000 loan at 6.5% for 30 years? (Use factor of $6.32 per $1,000 borrowed.)
A$1,540.80
B$1,643.20✓ Correct
C$1,408.00
D$1,722.00
Explanation
Monthly payment = (Loan amount / 1,000) × Factor = (260,000 / 1,000) × $6.32 = 260 × $6.32 = $1,643.20.
Related Utah Real Estate Math Questions
- A Utah HOA with 120 units collects $200/month per unit in assessments. Annual operating costs are $180,000. How much is reserved each year?
- What is the value of the NE 1/4 of the SW 1/4 of a section if land is worth $1,500 per acre?
- If a property manager charges 8% of collected rents, and monthly rents collected are $12,500, what is the monthly management fee?
- A lot measures 150 feet wide and 200 feet deep. How many square feet is the lot?
- A buyer offers $20,000 earnest money on a $500,000 purchase. What percentage of the purchase price is the earnest money?
- What is the simple interest on $200,000 at 6% for 90 days (use 360-day year)?
- A rental property produces $2,400/month gross rent. Operating expenses are $800/month. What is the annual NOI?
- A home has a monthly PITI payment of $2,450. The buyer's gross monthly income is $7,200. What is the front-end DTI ratio?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →