supplemental materials

[Jennifer]

I was reading through the supplemental materials, specifically the prorations section, and noticed that there are not answers to the 3 problems at the bottom. Can you please provide those? Or am I just missing them...?

Thank you!

[Jennifer]

I also don't see answers for the commissions problems. thanks again.

[Tom Stepanski Jr]

I am sorry I am taking so long...

Here is the answers for the Area Cube Math
Answers for practice questions…

1. 15,840 cubic feet, divide by 27 for yards. 586.67 cubic yards
2. $750
3. 116.67 per front foot. - 1.06 per square foot.
4. 2,250 cubic feet, divide by 27 = 83.333 times 2.90 = 241.67
5. 100 X 108.9 = 10,890/43560=.25 quarter of an acre.
6. $23,500
7. 25 Lots
8. $884 SqFt.
9. 20+6+10+30+16+12+18+8+4+16=140 x 8foot walls=1120 / 200 = 5.6 x $8 = $44.80
10. 145.2 Feet

I will post the rest in another posting

Thanks
Tom

[Tom Stepanski Jr]

Real Estate Taxes

Tax problem answers: 1. $664.15, 2. $898.90, 3. $660.79, 4. $522

MTG problem answers: 1. 37.50, 2. 52.50, 3. 199.50.

[Tom Stepanski Jr]

On number 1 there are 669 days left on the policy.

669 x 2.465753425 =  $1,649.59

1.  $1,649.59

2.
jan   31
feb   28
march   31
apr   15
total   105

480 / 365 = 1.315068493

105 x 1.315068493 =  $138.08

2.  Seller pays $138.08 and the Buyer pays the rest,  $341.92

3. 92.05

8% x 20,000 = $1,600 and that is per year.

Closing is the 10 and to the end of the month that is 21 days. 30 -10 = 20 + day of close = 21 days

1600/365= $4.38 x 21 = 92.05.

Hope this helps...

[Jennifer]

very helpful, thank you!!!

however, I think I am still missing the answers to the commissions problems.

http://www.burroughsco.com/_private/90HrBasic/Study_Mat/Commissions.html

[Tom Stepanski Jr]

1. You sell a house for $35,000.00 at 6% commission to your broker. Your share is 50% of the commission. What is your share?

35000 x .06 = 2100 / 2 = 1050.

2. A home owner tells you that another agent offered to list his house for $86,000.00 and charge $4,300.00 commission. What rate of commission did the other agent negotiate with the seller?

4300 / 86000 = .05


3. A client wishes to list his house with you at a price that will net him $46,000.00 after the reduction of the 7% commission rate that you negotiated. What sales price do you need to list the home for?

46000 / .93 = 49462.365591397849462365591397849 while this is the actual number you could round it up to 49,500...


hope this helps... sure thought i had this somewhere...

tom