2. A building sold for $100,000. The buyer deposited $8,000 of earnest
    money with the listing broker. The buyer received a 90% loan and the
    lender charged 2 discount points. What is the total amount of cash used
    by the Buyer?

3. A buyer paid $150,000 for a house and received an 80% loan with 3
    points. He gave the selling agent an earnest money check in the amount
    of $5,000. How much money does the buyer need to bring to closing?

4. A building is valued at $150,000 and has 3 apartments that rent for $400
    each. The NOI is 60% of gross rents. What is the capitalization rate?

5. A building has a NOI of $1,200 per month. If the capitalization rate is 9%,
    what is the value of the property using the income approach?

6. A loan of $20,000 at 9% would have quarterly interest payments of what
    amount?

7. Last months payment included interest of $520 on an $82,000 loan
    balance What is the annual rate of interest?

8. On a 25 year loan, the yield is 11%. The lender charged 5 points. 
    What is the interest rate?

9. If the interest rate on a 30 year loan is 12% and the monthly payment is 
    $950, the principal amount of the loan would be how much?

10. If the semi-annual interest on an 8% loan is $6,200, the principal amount
      of the loan is what amount?

1. A buyer pays $100,000 for a property and gets an 80% loan with 3 points.
    How much is the buyer charged at closing for the points?

    100,000 X .8 = 80,000 X .03 = $2,400

2. A building sold for $100,000. The buyer deposited $8,000 of earnest
    money with the listing broker. The buyer received a 90% loan and the
    lender charged 2 discount points What is the total amount of cash used
    by the Buyer?

     100,000 X .9 = 90,000 X .02 = $1,800 PTS + $10,000 (10%) = $11,800 TOTAL

3. A buyer paid $150,000 for a house and received an 80% loan with 3 
    points. He gave the selling agent an earnest money check in the amount
    of $5,000. How much money does the buyer need to bring to closing?

4. A building is valued at $150,000 and has 3 apartments that rent for $400
    each. The NOI is 60% of gross rents. What is the capitalization rate?

    400 X 3 = $1,200 / MONTH X 12 = $14,400 / YEAR INCOME X .6 = 
    $8,640 / 150,000 = .058

5. A building has a NOI of $1,200 per month. If the capitalization rate is 9%, 
    what is the value of the property using the income approach?

    1,200 X 12 = 14,400 / .09 = $160,000

6. A loan of $20,000 at 9% would have quarterly interest payments of what
    amount?

    20,000 X .09 = 1800 / YEAR INT / 4 = $450

7. Last months payment included interest of $520 on an $82,000 loan
    balance. What is the annual rate of interest?

    520 X 12 = $6,240 / 82,000 = .076 OR 7.6%

8. On a 25 year loan, the yield is 11%. The lender charged 5 points. What is
     the interest rate?

     5/8 11 - 5/8 = 10 3/8

9. If the interest rate on a 30 year loan is 12% and the monthly payment is
    $950, the principal amount of the loan would be how much?

    950 X 12 = 11,400 / YR / .12 = $95,000

10. If the semi-annual interest on an 8% loan is $6,200, the principal amount
      of the loan is what amount?