Real Estate Math
A Wyoming rectangular parcel is described as the SE 1/4 of the NE 1/4 of Section 14. How many acres does this parcel contain?
A10 acres
B20 acres
C40 acres✓ Correct
D80 acres
Explanation
SE 1/4 of NE 1/4 = 1/4 × 1/4 = 1/16 of a section. 1 section = 640 acres.
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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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