Real Estate Math
A West Virginia buyer takes out a $200,000 mortgage at 7% annual interest with a monthly payment of $1,331. How much of the first month's payment goes to principal?
A$164✓ Correct
B$331
C$1,167
D$1,331
Explanation
First month's interest = $200,000 × 7% ÷ 12 = $1,166.67.
Related West Virginia Real Estate Math Questions
- A West Virginia property management company takes 9% of collected rents. In a year, the managed properties collect $348,000 in rent. What is the management company's annual fee?
- A West Virginia property has a cost basis of $180,000 and has depreciated by $30,000 over the holding period. The adjusted cost basis is:
- A West Virginia seller accepted $248,000 for a property and the total commission paid was 6%. What was the gross commission in dollars?
- A Huntington, WV building has 8,000 sq ft of rentable space. Currently 7,200 sq ft is leased. What is the vacancy rate?
- A West Virginia seller's home was appraised at $180,000 and listed for $189,900. The buyer's offer of $183,000 is accepted. The transfer tax the seller owes is:
- A West Virginia property sold for $195,000. The seller paid 3% in selling agent commission and 3% in buyer's agent commission. The seller also paid $2,500 in closing costs. What was the seller's total cost of sale?
- A Morgantown investment property has a GRM of 10 and generates $24,000 in annual gross rent. What is the estimated property value?
- A West Virginia property has a list price of $185,000 and sold for $179,000. What is the sale-to-list price ratio?
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →