Real Estate Math
A Wyoming loan has a balance of $195,000 at 6% annual interest. The monthly payment is $1,169. How much of the first payment is principal?
A$144
B$194✓ Correct
C$225
D$244
Explanation
Monthly interest = $195,000 × 6% ÷ 12 = $975. Principal = $1,169 − $975 = $194.
Related Wyoming Real Estate Math Questions
- A Wyoming property was purchased for $220,000 and is depreciating for tax purposes over 27.5 years (residential). What is the annual depreciation deduction?
- A Wyoming property has an improvement value of $400,000. Using straight-line depreciation over 40 years (commercial), what is the annual depreciation allowance?
- A Wyoming home closes on September 1. Annual property taxes of $3,600 are paid in arrears on December 31. Using a 360-day year, how much does the seller owe the buyer in prorated taxes at closing?
- A Wyoming land parcel is described as the NW 1/4 of the SE 1/4 of Section 10. How many acres is this?
- A Wyoming parcel is described as the N 1/2 of the SW 1/4 of a section. How many acres does it contain?
- A Wyoming rental property has monthly expenses of $1,200 (taxes, insurance, maintenance). Monthly rent is $1,800. What is the annual before-financing cash flow?
- A Wyoming property's assessed value is $45,000 and the tax rate is $52 per $1,000 of assessed value. What is the annual property tax?
- A Wyoming property has an annual NOI of $52,000. If the property sells for $650,000, what is the capitalization rate?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →