This module covers math principles that are essential for the practice of real estate. Some of these topics may already be familiar to the student. The module will elaborate on how the subject matter pertains to real estate in everyday use. It is important that licensees understand the mathematical concepts here presented in order to be competent in the practice of real estate. The module includes fractions, decimals and percentages: the mathematical language used to express many aspects of real estate practice. Area and volume will be discussed so that the licensee will be able to determine and express the amount of the commodity entailed in a particular parcel of realty. While not a real estate finance course, this module will review the concepts of interest, amortization, loan discount and rate. These concepts will need to be understood fully for the licensee to grasp the essential elements used in the purchase and finance of real property. The principle of prorating will show the time-line elements needed in the transfer of realty. The conclusion of this module offers real world examples and applications of the information presented. Upon completion of this module the student will comprehend the language and principles of mathematics needed to successfully function in the practice of real estate.
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