Using the HP-12C Calculator: The Basics
Final AssessmentQuestions
1. A one and one-half story residential dwelling has 1,250 square feet of gross living area (GLA) on the first floor and 625 square feet of GLA on the second floor. What is the total GLA of the dwelling?
A. 1,825
B. 1,850
C. 1,875
D. 1,900
2.How many acres are contained in a parcel that has dimensions of 1,842’ x 2,200’?
A. 87
B. 89
C. 93
D. 94
3.What is the total cost of carpeting a room that is 16’ x 22’ if the carpet costs $41 per square yard installed?
A. 1458
B. 1,604
C. 2,405
D. 4,811
4.A storage building is 32’ x 64’ and is 14’ high. How many cubic feet are contained in the building?
A. 13,440
B. 26,880
C. 28,672
D. 30,464
5.The rear yard of a residence measures 60’ x 30’ and an 18’ x 24’ section of this area is fenced. What percent of the yard is fenced?
A. 20%
B. 22%
C. 30%
D. 40%
6.Two rooms of a residential dwelling need to be carpeted. One room is 10’ x 12’, and the carpet costs $30 per square yard installed. The other room is 16’ x 22’, and the carpet costs $43 per square yard installed. What is the total cost of the carpet?
A. $1,862
B. $1,964
C. $2,082
D. $3,123
7.A home comprises a one-story dwelling measuring 62’ x 36’ with a one-story addition that is 16’ x 20’. Find the total gross living area of the home plus the one-story addition.
A. 1,840
B. 1.912
C. 2,480
D. 2,552
8.An L-shaped ranch dwelling, including a porch and a garage, consists of a portion that is 42’ x 34’ and a portion that is 14’ x 22’. The appraiser has determined that 75% of the structure is considered living area. What is the gross living area?
A. 1,071
B. 1,176
C. 1,281
D. 1,302
9.Set the decimal places on your calculator to 4. Determine the number of acres of a vacant lot that measures 360’ x 176’.
A. 1.3670
B. 1.3886
C. 1.4050
D. 1.4545
10.Set data storage register R1 to 43560, the number of square feet in an acre. A land parcel contains 221,500 square feet. Rounded to six places, how many acres does the parcel contain?
A. 4.854263
B. 5.074456
C. 5.073462
D. 5.084940
11.Set data storage register R4 to 27, the number of cubic feet in a cubic yard. Rounding to a whole number, how many cubic yards of concrete will be needed for a concrete slab 12’ x 12’ and 6 inches thick?
A. 3
B. 5
C. 8
D. 32
12.Rounding to a whole number, what is the net sale price of a home in which the house is selling for $230,000 and the seller is paying 2.5% of the sale price toward the buyer’s costs?
A. 224,250
B. 225,400
C. 235,750
D. 243,750
13.A property recently sold for $590,000 and the seller carried a first mortgage of $589,000. What was the percent of the mortgage (LTV)? Round your answer to two places.
A. 98.31%
B. 98.33%
C. 98.83%
D. 99.83%
14.Set data storage register R2 to 8,940, which is the number of acres in a township. Rounded to the nearest percent, what percent of the township section is 50 acres?
A. 1%
B. 10%
C. 11%
D. 12%
15.An HVAC system will need to be replaced in 15 years at a cost of $10,000. To have enough money set aside when the replacement is necessary, what amount will need to be deposited monthly if the account will earn 4% interest? Round your answer to the nearest cent.
A. $40.60
B. $40.64
C. $40.66
D. $41.64
16.The monthly debt service on a loan is $1,400.93. If the interest rate for the loan is 5.75% for a 30-year term, what was the original loan amount? Round your answer to the nearest thousand.
A. $239,000
B. $240,000
C. $241,000
D. $242,000
17.Rounding your answer to the nearest cent, if $1,575 is deposited in a savings account earning 3.5% interest, how much will be in the account at the end of 5 years?
A. $1,781.53
B. $1,825.86
C. $1,850.86
D. $1,870.61
18.An investment property owner wants to ensure that he has enough funds set away to replace these capital items in 10 years: Furnace - $17,900; Roof - $19,000. How much must be deposited each month in an account bearing 5.5% interest? Round your answer to the nearest cent.
A. $225.69
B. $231.34
C. $236.98
D. $421.63
19.Over the next seven years, a land contract pays $375 payments at the end of each month. If an investor wanted to make an8% return on investment, what is the value today of the land contract? Round your answer to a whole dollar.
A. $19,524
B. $22,392
C. $24,060
D. $27,505
20.An apartment complex has a purchase price of $400,000. The expected annual rental income is $80,000 for each of the next 10 years. Assuming a cost of capital of 9%, what is the net present value of acquiring the building? Round your answer to the nearest dollar.
A. -$113,413
B. -$60,722
C. $60,722
D. $113,413
21.A duplex is for sale for $243,000. The expected annual rental income is $52,000 for each of the next 15 years. Assuming you can obtain financing at 12%, what is the NPV of the investment? Round your answer to the nearest dollar.
A. $61,063
B. $97,543
C. $111,165
D. $114,165
22.A strip mall is for sale for $495,000. The expected annual rental income is $90,000 for each of the next five years. What is the internal rate of return for the building? Round your answer to the nearest whole percent.
A. -2%
B. -3%
C. 2%
D. 3%
23. An office building is for sale for $300,000. The expected annual rental income is $89,000 for each of the next seven years. What would your cost of capital need to be to accept the project? Round your answer to the nearest whole percent.
A. 17%
B. 19%
C. 20%
D. 23%
24. Astorage building is for sale for $287,000. The expected annual rental income is $82,000 for each of the next five years. What would your cost of capital need to be to accept the project? Round your answer to the nearest whole percent.
A. 10%
B. 11%
C. 13%
D. 14%
25.A small subdivision contains eight homes of different floor plans. Using the following details about their square footages, calculate the mean.
1500148517401665
1575145017201695
A. 1599
B. 1604
C. 1613
D. 1622
26.An apartment building has a variety of rental rates depending on the type of apartment. There are a total of five apartments in the building. Find the average rental rate based upon the data below.
1BR2BR3BR2BR+Patio3BR+Patio
$500$650$800$750$900
A. $695
B. $710
C. $720
D. $735
27. Four homes have sold within the past few months. Before you start your appraisal work, find the standard deviation.
$150,000$165,000$148,000$142,000
A. $9,463
B. $9,541
C. $9,687
D. $9,777
28.An office building has a variety of rental rates depending on the size of the office space. There are a total of four office sizes within the building. Find the average rental rate based upon the data below.
$1,200$1,800$2,200$2,500
A. $1,850
B. $1,875
C. $1,900
D. $1,925
29.A small subdivision contains eight homes of different floor plans. Using the following details about their square footages, calculate the standard deviation.
2250217520602235
2190214520952270
A. 67
B. 75
C. 80
D. 82
30. Eight homes have sold within the past few months. Before you start your appraisal work, find the mean sales price, and then find the standard deviation.
$150,000$165,000$148,000$149,000
$156,000$163,000$170,000$167,000
A. $153,420, $7,499
B. $156,334, $8,301
C. $158,500, $8,832
D. $161,233, $9,866