Real Estate Math Fundamentals

A Grade 10 math worksheet covering fundamental concepts in real estate calculations, including commissions, property taxes, and mortgage basics.

Grade 10 Math Financial LiteracyReal Estate Math

Use This Worksheet

Includes

3 Short AnswerFill in the BlanksMultiple ChoiceTrue / FalseText

Standards

CCSS.MATH.CONTENT.HSA.CED.A.1CCSS.MATH.CONTENT.HSN.Q.A.1

Topics

Real EstateMathFinancial LiteracyGrade 10

9 sections · Free to use · Printable

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Read each question carefully and provide your answer in the space provided. Show all your work for calculations.

1. A real estate agent sells a house for $350,000. If their commission rate is 6%, how much commission do they earn?

2. An agent earned $15,000 in commission on a house that sold for $250,000. What was their commission rate?

3. If a property has an assessed value of $200,000 and the property tax rate is 1.5%, the annual property tax will be .

4. A homeowner pays $3,000 in annual property taxes. If the tax rate is 1.2%, the assessed value of their home is .

5. Which of the following is typically a fixed cost associated with owning a home?

Utility bills

Property taxes

Home repairs

Groceries

6. A down payment is the initial upfront payment made when purchasing a home.

True

False

7. A buyer secures a mortgage of $280,000 for a home valued at $350,000. Calculate the Loan-to-Value (LTV) ratio.

Consider the following diagram of a house for the next question:

8. Besides the purchase price, what are two other significant costs a buyer might incur when purchasing the house shown above?