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Assistance Needed - Math

Most of you readers know is when I don't have an answer to a particular question I ask for assistance.

I have checked the Internet for an answer to my question and was told to put this into a scientific calculator....well I have a Mortgage/Real Estate one, so that is not going to work.

Seems the practice tests ask about the depreciation of a house....I figured out how to do the appreciation on my calculator. I have a Calculated Industries Qualifier Plus IIIFX Model 3430. If you know how to use it for depreciation, I would appreciate directions.

Or the old fashioned way....math.

Sample of the problem:

If a house is worth $300,000 house and it depreciated at 3 percent per year for five years , what was it worth 5 years ago?

Posted by Nancy Larson on 12/01/2008 08:14 PM

Comments (10)

math problems, math, mtbank

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10 Comments on Assistance Needed - Math

DEC

2008

I don't know your calculator, but using "old fashioned math":

divide 300,000 by .97 to get to 1 year ago
divide the result by .97 for 2 years ago
etc...until you get to 5 years ago

God, I just couldn't figure that out....seems so easy, but I searched the real estate book half the day with no luck.

Thanks

hmmmmmmmmmmm wonder if i divide it and just keep hitting the equal key it that will get me to the right answer?

Do it both ways, but it should get you to the right answer.

I'm just not a math person---especially late in the evening!

Who cares! You will get paid then and now. That would be two commissions. That would be one plus one equals two, no matter the depreciation or appreciation.

Keep the focus and sell on..........

DEC

2008

Nance, don't stress on it. There are only a couple of math questions on the exam. I thought I'd have a tough time with the math when I took the exam (it might have changed since then), but the two questions I missed had nothing to do with math!

Laura G

I agree with Marilyn's strategy. Did you get your answer?

Yes I did, Marilyn answer was exactly what I needed....thanks Marliyn. And Laura, I'm on the cusp of Virgo, that should tell you what I am like...lol

DEC

2008

Nancy- You're welcome. Don't let your brain shut down when you see "math" question.

Most of the problems can be solved with simple arithmetic. The real key is to read the question carefully. For example, if the problem deals with a monthly expense but the question wants an annual result, remember to multiply by 12. I think more wrong answers result from not answering the question asked. Good luck!

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