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Actual mortgage: \$250,000, 6% interest, monthly payments of \$1,895.41, 7 year balloon
Market mortgage: \$250,000, 8% interest, monthly payments of \$2,187.41, 7 year balloon
What is the appropriate cash equivalency adjustment?

i) \$18,735
ii) \$19,988
iii) \$23,764
iv) Can't be inferred without purchase price.

2. Comparable property sold with cash to an assumed loan. Property is in disclosure state, where public records indicate only total sale price, and only the original loan amount. When probleming the seller, which of the given is the best way to begin asking about this loan?

i) What was the loan balance when you sold property?
ii) What was the remaining term when you sold property?
iii) What was the interest rate on the loan when you bought property?
iv) Do you think you would have gotten the same price if the buyer had not been able to assume the loan?

3. Answer the following problems based on given data:

Sale No. Distance from Town (miles)   Sale Price/Ac.
i)      1               1.6                                  \$50,000
ii)      2                3.4                                  \$40,000
iii)     3                5.2                                  \$36,000
iv)    4                6.0                                   \$30,000
v)     5                 8.5                                      \$2

Using simple linear regression, determine the data's correlation coefficient (r) ?

i) -0.99
ii) -0.98
iii) -0.97
iv) -0.95

4. Using simple linear regression, compute value per acre is indicated for land immediately adjacent to town?

i) \$53,500
ii) \$54,500
iii) \$58,900
iv) \$60,000

5. Compute the cash equivalency of a \$300,000 sale in which the seller paid \$6,000 in points on \$270,000, 6% mortgage, if these are market rates and buyer typically pays all financing costs?

i) \$264,000
ii) \$276,000
iii) \$294,000
iv) \$306,000

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M922466

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