Real Estate Math
A Wyoming property is 40 acres. How many square feet is this?
A435,600 sq ft
B871,200 sq ft
C1,742,400 sq ft✓ Correct
D4,356,000 sq ft
Explanation
1 acre = 43,560 square feet. 40 acres x 43,560 = 1,742,400 square feet.
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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