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What is the annual rate of interest

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Real estate Percentage and commission problems Answer the following multiple choice questions.

1. A convenience store occupied 30% of a 150' × 200' lot (the rest of the space is used for parking). Ten percent of the lot was condemned for a public easement. How many square feet remained for parking after the easement was established?

A. 18,000
B. 18,460
C. 19,759
D. 21,346

2. The asking price is $345,000. The property sells for $330,000. The commission is 6%. 60% of the commission goes to the broker and 40% goes to the salesperson. How much did the salesperson receive?

A. $7,920

B. $8,280

C. $11,880

D. $12,420

3. Cortezar purchases a property for $255,000 and puts 20% down. The monthly interest payments are $1,742.50. What is the annual rate of interest?

A. 9.50%

B. 9.90%

C. 10.10%

D. 10.25%

Reference no: EM132999783

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