Acknowledgement

The Nova Scotia Association of REALTORS® wishes to thank the Manitoba Real Estate
Association for the use of their real estate mathematics module in the development of this math
primer.

^The trademarks REALTOR®, REALTORS®, and the REALTOR® logos are controlled by
The Canadian Real Estate Association (CREA) and identify real estate professionals
who are members of CREA. Uvo]v^

^The trademarks MLS®, Multiple Listing Service® and the associated logos are owned
by The Canadian Real Estate Association (CREA) and identify the quality of services
provided by real estate professionals who are members of CREA. Uvo]v_

Disclaimer
The Nova Scotia Association of REALTORS® assumes no legal or other responsibilities whatsoever for any
damages or claims in connection with or arising out of the use of the information contained herein.

Copyright 2018, Nova Scotia Association of REALTORS®. This material may not be reproduced in part or in
whole, or in any medium, without the permission of the Nova Scotia Association of REALTORS®. All rights
reserved.

 Nova Scotia Association of REALTORS® September, 2018

68 Highfield Park Drive, Suite 112, Dartmouth, Nova Scotia B3A 0E4
 RealEstateMathematics
_______________________________________________________________________________

THE LEARNING JOURNEY MAP

Session 1 pg.4:
Basic Mathematical Calculations / Metric Conversions
✓ Fractions, Decimals, and Percentages
✓ Using a Calculator
✓ Working with Percentages
✓ Metric Conversion

Session 2 pg. 26:

Area and Volume Calculations
✓ Area Measurements
✓ Volume Measurements
✓ Living Area Measurements

Session 3 pg. 38:

Market, Appraisal, and Interest Calculations
✓ Mean, Median, and Mode
✓ Capitalization
✓ Simple and Compound Interest
✓ Canadian Mortgages

2
 SESSION 1: BASIC MATHEMATICAL
CALCULATIONS AND METRIC CONVERSIONS

SESSION SNAPSHOT
Session 1 provides the opportunity to review and practice basic math skills in typical real estate
situations. The amount of time that you spend in each session depends largely on your current
mathematical knowledge. At minimum, it should represent a refresher. Don't skip the practice
problems and miss the opportunity to improve.

At the conclusion of this session, you will be able to:

• Demonstrate basic mathematical skills in calculations involving fractions, decimals,

percentages, and associated conversions.
• Apply this knowledge in real estate related problems, activities, and exercises.
• Complete imperial/metric conversion calculations based on typical situations facing
practitioners.
 RealEstateMathematics
_______________________________________________________________________________

FRACTIONS, DECIMALS, AND PERCENTAGES

Although fractions, decimals, and percentages look different, each represents the same number
expressed in a different way.

Fractions
• A fraction has a numerator (top number) and a denominator (bottom number).
• A numerator is part of the group; a denominator is the whole group

5 numerator (part of the group)

8 denominator (the whole group)

Decimals
• The decimal is commonly used in real estate transactions.
• Most fractions are converted into decimals.
• To convert, simply divide the top number by the bottom number.

Decimals are actually fractions in which the denominator is expressed as a power of 10; e.g., 10,
100, 1,000, etc. The fraction 3/5 as a decimal is .6 or 6/10. The same decimal could be expressed
as .60 or 60/100 or .600 or 600/1000, etc. All are higher powers of ten.

 NOTE ➔

Rules of Rounding Decimals

If the decimal digit to the right of the number being rounded is 5 or higher, increase the digit
being rounded by one. If the decimal digit to the right of the number being rounded is 4 or
lower, add nothing.

Example:
6.33846 rounded to four decimals is 6.3385
6.33846 rounded to three decimals is 6.338
6.33846 rounded to two decimals is 6.34
6.33842 rounded to one decimal is 6.3

For most real estate purposes, decimals are rounded to either one or two digits.

 CAUTION ➔

Minor Rounding Differences

Mathematical calculations provided are rounded to two decimals unless otherwise noted. In
certain instances, when sequential calculations are required, rounding at various steps may
render slightly different answers.
To avoid rounding differences when performing sequential calculations, do not round until the
final answer is determined.

4
Percentages
• A rate or proportion in relation to 100.
• The percentage is commonly used in analysing real estate prices and market trends.
• To convert a decimal to a percentage, move the decimal point two places to the right and
replace the decimal with a percentage sign. This is equivalent to multiplying the decimal by
100.

Complete the final example with an appropriate answer.

Scenario Fraction Decimal Percentage

You have shown 3 properties from a total of 5 3 3÷5 60% or .60

Ten of the total sales force, consisting of 24 10 10 ÷ 24 42% or .416

salespeople, received sales awards 24

On Wednesday evening, the salesperson 6 6 ÷ 12 50% or .50

received 12 calls and converted 6 to 12
appointments

On Thursday, you expect to visit 12 homes

out of a total of 40 in a particular street. ________ __________ ___________
Calculate the fraction, decimal, and
percentage accordingly.

Smith's lot has 24,500 square feet and his 3,000 3,000 ÷ 24,500 = .12 (becomes 12%)
house occupies 3,000 square feet of that 24,500
space.

A house is sold for $109,000 but the original 109,000 109,000 ÷ 113,500=.96(becomes 96%)
listing price was $113,500 113,500

A cottage is sold for $89,000 but the

original listing price was $93,500. _________ ___________ _____________
Calculate the fraction, decimal, and
percentage accordingly.
 RealEstateMathematics
_______________________________________________________________________________

 TIP ➔
Rules of Thumb
Is there an easy way to remember which is the numerator and the denominator? Think in terms
of whole (denominator) and part (numerator). In the "sales awards" example above, the total
sales force was the whole and those receiving awards were a part of that group. Another handy
rule to consider: the numerator is the number you want to compare to another; the
denominator is the basis of comparison.

USING A CALCULATOR
Basic Calculations
The basic hand-held calculator relies on algebraic logic. In other words, if you want to perform
basic addition, subtraction, multiplication, and division using the numbers 8 and 4, then the
following sequenced algebraic steps are required in order:

Addition of 4 + 8: Press: 4 + 8 = Answer: 12.

Subtraction of 8 W 4: Press: 8 W 4 = Answer: 4.

Division of 4 by 8: Press: 4 ÷ 8 = Answer: .5

Multiplication of 4 times 8: Press: 4 x 8 = Answer: 32.

Sequential Calculations
In some real estate calculations, several steps must be accomplished in sequence to arrive at the
correct answer. Here are three important rules:

Problem Solution

• First, calculate those items within

parentheses first. (4 W 1) divided by 3 3 divided by 3 = 1

• Second, perform all multiplication

and division from left to right. 6 + (4 x 3) 6 + 12 = 18

• Third, complete remaining addition

and subtractions from left to right. (4 x 6) W (12 ÷ 3) 24 W 4 = 20

6
The Percentage (%) Key
In most calculators simply enter the amount, the percentage to be calculated, and then press
the % key.
The house was sold for $189,000 and the commission is 5%:
Press: 189000 x 5 % Answer: 9450.

NOTE: In some calculators, the following additional step (pressing the = key) may be required:
Press: 189000 x 5 % Answer: 9450.

The "%" key can be used for other calculations.

Addition: We expect last year's sales volumes of $340,000 to be up by 25% to a new total of:
Press: 340000 + 25 % Answer: 425,000

Subtraction: We expect this year's sales volume of $340,000 to be down by 10% to a new total
of:
Press: 340000 W 10 % Answer: 306,000

Multiplication: We expect this year's sales volume of $340,000 to be increased by 25%, which
represents an increase of:
Press: 340000 x 25 % Answer: 85,000

Division: We expect that this year's sales volume of $340,000 is only 50% of what we can expect
next year. Our forecast for next year is:
Press: 340000 ÷ 50 % Answer: 680,000
 RealEstateMathematics
_______________________________________________________________________________

EXERCISES
________________________________________________________________________

Solution Strategies

1. To convert fraction to decimal:

Numerator (part of the group) 1
÷ Denominator (whole of the group) 4

2. To convert decimal to percentage:

Move the decimal point two places to the right
and replace the decimal point with % sign .42 becomes 42%

3. To convert percentage to decimal:

Move the decimal point two places to the left
and remove the percentage sign. 42% becomes .42

4. To solve problems (unless other specified) always convert fractions and percentages to
decimals.
______________________________________________________________________________

EXERCISE 1: Fractions, Decimals, and Percentages

Whether you are using a calculator or manually performing the calculation, following are a
variety of skill questions to test your abilities.

1. Convert the following to decimals and percentages.

Problem Decimal Percentage

1/4 _______________ _______________

3/8 _______________ _______________

9/16 _______________ _______________

23/64 _______________ _______________

123/144 _______________ _______________

8
2. Convert the following to decimals:

Problem Decimal

9% _________________

11.5% _________________

23 1/2 % __________________

216% __________________

1/4 of 1% __________________

1/2 of 1% __________________

3. Add the following (convert to decimals and round to 3 decimals as required):

Problem Decimal

12.5 __________________
13.5 __________________
8 1/4 __________________
14.05 __________________
18 1/2 __________________
16 3/41 __________________
2 3/9 __________________

Total: __________________

4. Subtractions (convert to decimals and round to decimals as required).

Problem Decimal Solution

12,247 W 12 1/4 __________________ __________________

100 W 81.5 __________________ __________________

12 1/4 W 10 1/8 __________________ __________________

1,094 W 369 __________________ __________________

4.9 - .0029 __________________ __________________

 RealEstateMathematics
_______________________________________________________________________________

5. Multiplication (convert to decimals and round to 3 decimals as necessary)

Problem Decimal Solution

27 x 12.5 __________________ __________________

29 x 8 1/4 __________________ __________________

11/19 x 3/4 __________________ __________________

379 x .86 __________________ __________________

5/7 x 8.2 __________________ __________________

6. Division (convert to decimals and round to 3 decimals as necessary)

Problem Decimal Solution

31 divided by 9 __________________ __________________

.1 divided by .27 __________________ __________________

2/3 divided by 1/4 __________________ __________________

39 3/4 divided by 5.5 __________________ __________________

.05 divided by .03 __________________ __________________

10
WORKING WITH PERCENTAGES
The greatest number of real estate calculations involves percentages. In fact, consumers and
practitioners often converse in terms of percentages; e.g., what percentage increase in sales has
occurred during the past year, how much commission I have to pay you, etc. The percentage
represents a portion of the whole being discussed. There are three components to every
percentage calculation.

Total Amount Rate Part (portion)

100,000 25% or .25 25,000

• Broker/Owner Johnson of ABC Realty Inc. received $10,000 commission; Salesperson Lee is
paid 50% of that amount, which represents $5,000.

10,000 x 50% or .50 = 5,000

• Investor Thompson wants to purchase a commercial lot with 20,000 square feet. The
maximum building coverage permitted by local zoning is 60%. Therefore, Thompson can
build a building with a maximum area of 12,000 square feet.

20,000 x 60% or .60 = 12,000

• Broker/Owner Brown of XYZ Real Estate Ltd. has determined that of 200 homes in one
neighbourhood, 9% on average are listed for sale. Therefore, normally 18 homes in that
neighbourhood are for sale.

200 x 9% or .09 = 18

Rules for Working with Percentages

Rule #1
• If total and rate are known, the part is calculated by multiplying the two together.

SooSu]R`vRl]Rv}væ9}(R]v`R}u[(}}PXTR
home is 3,000 square feet. How large a kitchen will be constructed?

3,000 x 15% or .15 = 450 square feet

 RealEstateMathematics
_______________________________________________________________________________

Rule #2
• If total and part are known, the rate is calculated by dividing the part by the total.

Purchaser Jones has a down payment of $25,000 and is purchasing a home worth
$100,000. What percentage does this represent?

25,000  100,000 = 25% or .25

Rule #3
• If part and rate are known, the total is determined by dividing the part by the rate.

Builder Anderson has constructed 5 homes during the first few months, which
represents 25% of his planned homes for the current year. How many homes does he
plan to build?

5  25% or .25 = 20

Calculating Percentage Increase or Decrease

Frequently, real estate practitioners compare the amount of change occurring from one time
period to another. This is most commonly found when resale market activity is discussed. For
example, Winnipeg had 8,026 residential sales representing a year-on-year decrease of 2.6%.
However, average price for the same period rose 0.7% to approximately $90,700. In Brandon, a
5.7% year-on-year increase in sales was coupled with a 5.5% increase in average price to
$80,517. Across Canada, 25 urban markets rose 30.8% to a record of 220,201 dwellings sold,
surpassing the previous benchmark of 211,372 units.

Positive Change
• The Halifax market has changed substantially compared with the prior year. Just twelve
months ago, the average property was selling for $124,500. During the current year the
figure is now $131,500. What percentage increase has occurred?

FORMULA: (New amount t Old amount)  Old Amount = Rate (Percentage Change)

131,500
- 124,500
7,000 7,000  124,500 = .0562248 or 5.62%

12
Negative Change

• The Cape Breton market has changed substantially compared with the prior year. Just
twelve months ago, the average property was selling for $142,000. During the current year
the figure is now $132,000. What percentage decrease has occurred?

132,000
- 142,000
(10,000) (10,000)  142,000 = (.0704225) or W 7.04%
 RealEstateMathematics
_______________________________________________________________________________

EXERCISES
________________________________________________________________________

Solution Strategies
1. When solving problems involving percentages, always read the problem carefully.
2. Solve the problem in decimals and then convert to required answer; e.g., percentage, dollar
amount, etc.
3. Decide which amounts represent the total, part, and/or rate.
4. Use the three rules concerning total, part, and rate as required:
Total amount x Rate = Part
Part  Total amount = Rate
Part  Rate = Total amount

EXERCISE 2: Percentages

1. Mr. Jones purchased a new house for $120,000 that included several upgrades. This
represented 94% of the list price. What was the listing price of the home (rounded to
the nearest dollar)?

2. Salesperson Garcia, employed by ABC Realty Inc., is calculating her commission based
on a commission rate of 6% and a sale price of $129,000 with her portion of the total
}uu]]}v]vPæ9XWR]G][}uu]]}v~}v}Rv}ooZM

3. Broker/O`vB}`v[}uv˙UXYZRo˙LXUvoo˙}(`R]R
Salesperson Martin was involved in 32. What percentage involvement does that
represent (rounded to two decimal points)?

14
4. Salesperson Garcia sold a property for $187,000. The commission was 5.5% plus Goods
and Services Tax (GST) at 7%. Calculate the amount of GST.

5. Buyer Jones is contemplating the purchase of a new home. The monthly mortgage
payment based on his downpayment would be $1,796.55. To qualify for this mortgage,
Rov]u]v]uu}(9}(J}v[u}vRo˙]v}uo]}R
mortgage payments. What minimum income per month must Jones have in order to
qualify?

6. Builder Anderson is debating the purchase of a one acre parcel of land (43,560 square
feet), which according to municipal officials can be severed into three equal parcels
allowing a 10% allocation for a footpath required by the city. What will be the square
footage for each parcel of land?

7. If 25% of the homes in Westville have 4 bedrooms and 63% have 3 bedrooms and there
are 1,300 homes in the community, how many homes have 3 bedrooms and how many
have 4 bedrooms?
 RealEstateMathematics
_______________________________________________________________________________

8. A house has an assessed value of $94,000 but this figure represents only 80% of its
current market value. What is the current market value?

9. Seller Smith sold his property for $199,500. The original listing price was $209,900.
What percentage does the selling price represent in relation to the original listing price
(rounded to the nearest percentage)?

10. Salesperson Garcia is preparing for a listing presentation and is comparing two recent
sales. House A, listed at $149,900 sold for $10,000 less. House B, listed at $241,000 sold
for $229,900. Which house had the smaller selling to listing price difference (rounded to
the nearest percentage)?

11. The commission on a recent transaction was $7,876 and the commission rate was 4.5%.
Based on this information, what was the selling price of the house?

12. A house was listed for $125,000 and sold for 94.5% of listing price. What was the sale
price?

16
13. Investor Thompson is considering office premises for his new company. The current rent
per square foot per year is $8.75. Last year, the same premises rented for $8.55. The
landlord has already informed Thompson that next year the rent will be $9.05. What are
the respective percentage increases from last year to this year; and from this year to
next (rounded to two decimal points)? How much rent will be paid next year if
Thompson leases this 3,500 square foot office premises?

14. Broker/Owner Johnson of ABC Realty Inc. has just completed an appraisal and estimated
Rulo}(SooSu]R[}˙ at $185,000. Last year, Broker/Owner Brown
of XYZ Real Estate Ltd. completed a similar appraisal for $187,500. What percentage
RvP}J}Rv}v[]ov}vR]}}]v]}v~ rounded to two
decimals)?

15. Broker/O`vJ}Rv}vv]]Rov˘˙`]oo}Rv˙[
production of 210 by 10%. If the average sale price is $123,500 (forecasted to remain
the same next year), what total sales production (average sale price x number of sales)
is Johnson forecasting? If there are 15 salespeople in the office and all are expected to
have the same volumes, how many sales will each salesperson generate (rounded to the
nearest sale)?

16. SooSu]R[}˙` s sold for $75,500. ABC Realty Inc. received 5% of the sale
price and Salesperson Lee received 60% of the total brokerage commission. How much
did he receive?
 RealEstateMathematics
_______________________________________________________________________________

17. A property was sold for $149,500 and the 6% commission was received by the XYZ Real
Estate LXTRo]]vPo}v[}uu]]}v`}vælæo]vR
selling salesperson on a 60/40 split. Allocation between listing and selling portions was
50/50. Calculate the commission received by the two salespeople.

18. Salesperson Ward ]¤Uæı9}(R}lP[9}uu]]}vXWR`

the sale price of the house (rounded to the nearest $100)?

19. Salesperson Lee of ABC Realty Inc. is listing a large commercial property for $1,600,000.
A graduated commission is based on 6% of the first $500,000 of sale price; 2% on the
next $500,000 and 1% on the balance. If the property sold for $1,550,000, how much
commission is due and payable to ABC Realty Inc.?

20. TR}uu]]}v(}Ro}(Su]R[}˙]æXæ9XTR e property has been

listed at $149,900. What is the commission received by the broker if the property sells
for 7% less than the listing price?

21. Salesperson Lee will receive 4/10ths of the commission paid to ABC Realty Inc. If the sale
price of the property is $109,500 and the commission is 4.5%, how much will Lee
receive?

18
22. Two cooperating brokers participated equally in a 6% commission. Each received
$4,200. What was the sale price of the property?

23. ABC Realty Inc. (listing broker) and XYZ Real Estate Ltd. (selling broker) agreed to split
equally a commission of 5.0% on the $243,500 sale. Salesperson Lee employed by ABC
Ro˙IvX]æ9}(R}lP[RUv`}o}o`R}`}l(}
XYZ Real Estate Ltd. will equally spli9}(R}lP[}uu]]}vXH}`uR
will the three salespeople receive?

24. Seller Smith wants to net approximately $140,000 from his sale. Assuming that the
property is sold for $155,000, the commission is 6%, and other closing costs are
approximately 3.5% of the sale price, will Smith meet his objective?

25. The owners of a vacant parcel of land want to make a 20% profit on the original
purchase price while also recouping closing costs and commission, both of which are
estimated at $22,000. If they paid $120,000, what is the minimum sale price the owners
must receive to achieve their objective?
 RealEstateMathematics
_______________________________________________________________________________

METRIC CONVERSION
The real estate industry, as with other sectors in the economy, is undergoing gradual conversion
from imperial to metric measurement. The metric measurement, based on an efficient decimal
system, is widely used throughout the world. While full conversion is the ultimate goal,
practitioners face the everyday realities of working with both systems of distance (linear) and
area measurements. In many parts of the province, listing information concerning room
measurements is expressed in metric, while lot and area measurements remain in imperial; this
practice is far from universal. Salespeople are faced with conversions between the two systems.
Consequently, exercises are provided both for metric/imperial and imperial/metric conversions.
Real estate practitioners are involved most frequently in three measurements: feet/metres,
such as for room measurements and lot sizes; square feet/square metres such as the square
footage of a house, condominium, or commercial premises; acres/hectares such as total and
workable acreage in farm properties, rural/recreational vacant land, and building lots.

______________________________________________________________________________

Please refer to:

Metric/Imperial Conversion Factors in the appendix at the back of this booklet

______________________________________________________________________________

20
EXERCISES
___________________________________________________________________________

Solution Strategies

1. Conversion from imperial to metric.

• Feet to metres: Multiply the number of feet by .3048

• Square feet to square metres: Multiple square feet by .0929
• Acres to hectares: Multiply acres by .4047

5 feet = 1.524 metres (5 x .3048)

5 feet, 6 inches = 1.68 metres (5.5 x .3048)
8 1/2 feet = 2.59 metres (8.5 x .3048)
790 square feet = 73.39 square metres (790 x .0929)
1140.5 square feet = 105.95 square metres (1140.5 x .0929)
8 acres = 3.24 hectares (8 x .4047)
8 1/2 acres = 3.44 hectares (8.5 x .4047)

2. Conversion from metric to imperial.

• Metres to feet: Multiply the number of metres by 3.281

• Square metres to square feet: Multiply square metres by 10.76
• Hectares to acres: Multiply hectares by 2.471

5 metres = 16.41 feet (5 x 3.281)

5.5 metres = 18.05 feet (5.5 x 3.281)
70 square metres = 753 square feet (70 x 10.76)
85.5 square metres = 919.98 square feet (85.5 x 10.76)
8 hectares = 19.77 acres (8 x 2.471)
8.5 hectares = 21 acres (8.5 x 2.471)

Note: Minor answer variances may occur due to rounding of decimals. Answers are rounded to
two decimals unless otherwise noted.

______________________________________________________________________________
 RealEstateMathematics
_______________________________________________________________________________

EXERCISE 3: Metric/Imperial

1. Using the formulas provided, match the imperial measurements with the correct metric
measurement.

Imperial Metric

a. 15 acres 1. 123.09 square metres

b. 9 1/2 acres 2. 2.90 metres
c. 22.5 feet 3. 6.07 hectares
d. 9.75 acres 4. 112.43 square metres
e. 1325 square feet 5. 0.20 hectares
f. 0.50 acres 6. 2.91 hectares
g. 940 square feet 7. 3.84 hectares
h. 9 feet, 6 inches 8. 6.86 metres
i. 7.20 acres 9. 87.33 square metres
j. 1210.25 square feet 10. 3.95 hectares

2. Seller Smith is listing his property with ABC Realty Inc. Unfortunately, you as the
salesperson inadvertently left the metric measuring tape at home. Smith does have a
feet and inches tape. Consequently, you must jot down imperial measurements and
then convert these using the conversion formulas. Insert your answers in the space
provided.

Living Room: 14'6_˘[Y _________________________________________

Dining Room: 16'6" x 12'3" __________________________________________

Kitchen: 10'9" x 11'6" _______________________________________________

Master Bedroom: 19' x 16'3" _________________________________________

Bedroom: 12' x 11'6" _______________________________________________

Bedroom: 12'6" x 9'9"________________________________________________

2
3. Buyer Jones is acquiring two adjoining pieces of property in order to meet a minimum
lot size of 3,000 square metres for a new commercial building. The dimensions of the
two properties are 125'6" x 132'9" and 136'3" x 129'9". If Jones purchases both
properties, will he meet the minimum requirement?

4. Buyer Jones has just been viewing the listed property at 123 Main Street. All listing
information is provided in metric; however, Jones wants the bedroom measurements
converted to feet and inches. Insert your answers in the space provided.

Master bedroom: 5.19m x 3.66 m_______________________________________

Bedroom: 3.29m x 3.04m ____________________________________________

Bedroom: 3.19m x 2.81m ____________________________________________

5. Seller Smith has a building lot measuring 146'6" x 200'. Currently, the municipal bylaw
requires a minimum of 2,500 square metres to obtain a building permit. Further, the
maximum coverage permitted (total square metres on the main level) of a single family
dwelling is 15% of the entire lot size. Will Smith's lot meet the minimum standard and, if
so, how large a main level area can be constructed (both metric and imperial)?

Metric Imperial

6. A distance of 50.5 feet equals:

(a) 153 metres

(b) 1.53 metres
(c) 15.39 metres
(d) 0.153 metres
 RealEstateMathematics
_______________________________________________________________________________

7. A living room is rectangular and has dimensions of 3.4 metres by 6.2 metres. The
imperial equivalent is:

(a) 112.2 feet x 204.6 feet

(b) 56.1 feet x 102.3 feet
(c) 10.88 feet x 17.36 feet
(d) 11.16 feet x 20.34 feet

8. A small hobby farm contains 20 acres. The equivalent in hectares is:

(a) 8.05
(b) 8.09
(c) 1.32
(d) 1.55

9. A small brick bungalow contains 960 square feet. The equivalent in square metres is:

(a) 89.18
(b) 94.60
(c) 89.33
(d) 92.64

10. A lot contains 43,560 square feet. The equivalent in square metres is:

(a) 404.67
(b) 4,046.72
(c) 40,467.24
(d) 4,046.92

24
 SESSION 2:
AREA AND VOLUME CALCULATIONS

SESSION SNAPSHOT
The measurement of area is used in many real estate applications. When drafting offers of
purchase involving raw land, the price may be based on a value per acre or hectare (or per
working acre or working hectare). The acquisition of building permits and interpretation of
zoning bylaws require knowledge of a particular parcel's total area in square feet or square
metres. This also applies to the measurement and calculation of building area for advertising
purposes or the leasing of office, retail, and industrial space. Area and size measurements must
be accurately calculated. Courts have found both listing and selling brokers and their
salespeople liable for negligent misrepresentations for measurements that were not accurately
determined.

At the conclusion of this session, you will be able to:

• Calculate area and related linear measurements.

• Calculate volume measurements.
• Understand and apply the concept of living area measurements.
 RealEstateMathematics
_______________________________________________________________________________

Please refer to:

Measurement Guidelines (Residential) in the appendix at the back of this booklet

________________________________________________________________________

AREA MEASUREMENTS t RECTANGULAR SHAPES

Frequently, real estate practitioners are called upon to calculate area measurements in houses.
While not all houses are rectangles, most can be isolated into a number of rectangles joined
together. Rectangles have four sides that are at right angles to one another. A square is simply a
rectangle with four equal sides.

Area #3
#SAZ

Area # 1

Area #2

26
It can be seen that there are three rectangular areas to consider:

Imperial Calculation:
Area #1: The main part of the rectangle is 40 feet x 25 feet = 1,000 sq. ft.
Area #2: Less: the porch area of 10 feet x 7 feet = (70) sq. ft.
Area #3: Plus: projection of 15 feet x 8 feet = 120 sq. ft.
Total area 1,050 sq. ft.

(An alternative method is to calculate the area of the larger part - 40 x 33 = 1,320 and subtract
the portions of 8 x 25 = 200 and 10 x 7 = 70 for a total area of 1,050.)

Metric Calculation:
Area #1: The main part of the rectangle is 12.19m x 7.62m = 92.89 sq. metres
Area #2: Less: the porch area of 3.05m x 2.13m = (6.50) sq. metres
Area #3: Plus: projection of 4.57m x 2.44m = 11.15 sq. metres
Total area 97.54 sq. metres

 CAUTION ➔
If the answer of 97.54 square metres is converted back to square feet using the recommended
formula (i.e., 97.54 square metres x 10.76), the imperial measurement is 1,049.53 square feet,
when in fact the original measurement was 1,050 square feet. The variance is due to rounding
the initial calculations for Areas 1, 2, and 3 to 2 decimal places.

Measurements from the Past

Real estate practitioners may encounter dated linear measurements such as links, chains, and
rods.
Following are imperial and metric conversions for such terms.

1 link = 7.9 inches = 20.1 centimetres

1 chain = 100 links = 66 feet = 4 rods = 20.1 metres
1 rod = 1 perch = 1 pole = 16.5 feet = 5.0 metres
1 mile = 80 chains = 320 rods = 5,280 feet = 1760 yards = 1.6 kilometres
1 acre = 43,560 square feet = 10 square chains = .4 hectares
1 square mile = 640 acres = 259 hectares
 RealEstateMathematics
_______________________________________________________________________________

AREA MEASUREMENTS t NON-RECTANGULAR SHAPES

Irregular
When the area is not a rectangle, measurement is more complicated; however, the diagram can
frequently be broken into component rectangles and triangles.

60’

Area 2 10’
Area
#1

40’

By drawing an imaginary line, the shape is divided into two parts. The area of a triangle is
calculated using 1/2 (base x height).

Area #1: Triangle 1/2 (40' x 100') = 2,000 sq. ft.

Area #2: Rectangle 60' x 100' = 6,000 sq. ft.
Total Area 8,000 sq. ft.

28
Parallelogram
A four sided figure with opposite sides parallel. A parallelogram is measured by multiplying the
length of the base by the perpendicular height. Perpendicular height is determined by
measuring from the base at a 90° angle. In the example, the total area is 50' x 40' = 2,000 square
feet.

40’perpendicular
45’ height

50’

Trapezoid
A four sided figure which two sides are parallel. A trapezoid is measured by averaging the two
parallel sides and multiplying by the perpendicular height. In the example, the total area is ((45'
+ 65') ÷ 2) x 24 = 1,320 square feet.

45’

27’ 24’perpendicular
height

65’
 RealEstateMathematics
_______________________________________________________________________________

THE FRONT FOOT (METRE)

In some instances, real estate practitioners encounter land measurements in which the total size
of the lot, while important, is not nearly as vital in determining value as the front foot/metre;
i.e., the measured distance of the front in feet/metres. The most common example is a lakefront
recreational property. The ability to directly access the waterfront becomes a primary factor in
establishing value.

Example: Imperial Measurement

Buyer Jones is considering two lakefront lots:
Lot 1 measures 100' x 200' Priced at $ 99,500
Lot 2 measures 125' x 190' Priced at $102,500
Jones is attempting to establish which the best buy is. According to the salesperson, lakefront
lots are being sold for approximately $1,000 per front foot, while non fronting lots are normally
priced at approximately $2.75 per square foot. If the two lots were not fronting on a lake, they
would probably be priced as follows:
Lot 1 (100' x 200') x $2.75 = $55,000
Lot 2 (125' x 190') x $2.75 = $65,313 (rounded to $65,500)
However, when considering the best buy for lakefront property based on the front foot, Lot 1 is
priced at $995.00 per front foot ($99,500/100 feet) and Lot 2 is priced at $820.00 per front foot
($102,500/125 feet). Assuming no other significant differences, Lot 1 is priced higher and
consequently Lot 2 appears as the better buy.

VOLUME MEASUREMENT
Construction costs in real estate are quoted either on a square foot/metre or cubic foot/metre
basis. Any shape that encloses a space has a cubic content or volume and has three dimensions
W length, width, and height. Cubic measurements are most frequently encountered in
development/construction; e.g., cubic yards/metres of fill required on a vacant lot to meet
building specifications or flood plain requirements; basement excavation expressed as cubic
yards/metres; and cubic yards/metres of concrete required for a driveway. Examples are
provided in imperial measurement only.

Cube or Box Shape

The formula is: Volume = Length (L) x Width (W) x Height (H)
• 1 cubic foot = 12" x 12" x 12"
• 1 cubic yard = 3' x 3' x 3'
• Cubic feet to cubic yards, divide by 27
• Cubic yards to cubic feet, multiply by 27

30
EXERCISES
______________________________________________________________________________

SOLUTION STRATEGIES
1. Square Measure:
• Square yards to square feet: Multiply by 9
• Square feet to square yards: Divide by 9
• Acres to square feet: Multiply by 43,560
• Square feet to acres: Divide by 43,560
• Sections to acres: Multiply by 640
• Acres to sections: Divide by 640
2. Volume Measure:
• Length (L) x Width (W) x Height (H) = Volume
______________________________________________________________________________

EXERCISE 1: Multiple Choice and Calculations

1. Calculate the area, in square metres, of the following floor diagram.

9.8m
1.5m

1.m
9.8m

4.3m
1.8m

4.8m 4.8m
15 .7m

(a) 119.88 square metres

(b) 126.21 square metres
(c) 122.13 square metres
(d) 153.86 square metres
 RealEstateMathematics
_______________________________________________________________________________

2. Calculate the area, in square metres, of the following floor diagram.

1.8m
2.7m
1m
4.m

1.5m
7.9m

3.1m

2m

(a) 104.20 square metres

(b) 129.05 square metres
(c) 113.65 square metres
(d) 128.25 square metres

3. Calculate the area, in square metres, of the following floor diagram.

7.8m
1.m

5.4m
7.m 1.m

3.1m

1.4m

10.4m

(a) 101.20 square metres

(b) 842.20 square metres
(c) 84.54 square metres
(d) 307.53 square metres

32
4. Calculate the area, in square metres, of the following right angle triangle.

40.2m

30.6,m

(a) 1,230.12 square metres

(b) 842.20 square metres
(c) 615.06 square metres
(d) 307.53 square metres
 RealEstateMathematics
_______________________________________________________________________________

5. Calculate the area, in square metres, of the following trapezoid.

64m

28m
23.m

85m

(a) 1,792.00 square metres

(b) 1,713.50 square metres
(c) 2,086.00 square metres
(d) 2,380.00 square metres

6. Calculate the area, in square metres, of the following parallelogram.

35m
26m

75m

(a) 2,625.00 square metres

(b) 910.00 square metres
(c) 975.00 square metres
(d) 1,950.00 square metres

34
7. A two storey building has a square footage of 960 square feet per floor. What would the
construction cost of this structure be if a builder estimates a cost of $4.50 per cubic foot
to construct and the height of the structure measured from the surface of the basement
floor to halfway between the eaves and the ridge of the roof is 25.5 feet? (Note: add 6
inches to the height for the ceiling joists)

(a) $24,480.00
(b) $24,960.00
(c) $101,160.00
(d) $112,320.00

8. Seller Smith owns a flat-roofed commercial building that measure (based on outside
wall measurements) 34 feet long, 24 feet wide and 14 feet high. The height is measured
from 6 inches below the basement floor to the roof top. The volume in cubic feet is:

(a) 11,424
(b) 11,242
(c) 1,142.40
(d) None of the above

9. Builder Anderson is attempting to estimate the cost of pouring concrete driveways for
three new houses under construction. Each will measure 24 feet wide, 40 feet long and
3 inches thick. If a contract quotes $87.50 per cubic yard (including forms and finishing
costs), how much will Anderson have to pay the contractor (rounded to the nearest
$100)?

10. A warehouse structure is estimated to cost $137.00 per cubic yard to construct. If the
external measurements of the planned building are 60 feet long by 24 feet wide with a
floor to top-of-roof distance of 14 feet, what will be the cost (rounded to the nearest
$100)? (Note: add 6 inches to the height for the ceiling joists)
 RealEstateMathematics
_______________________________________________________________________________

11. The Jones family has purchased a one and one-half storey home with external
measurements of 36 feet by 24 feet. The main floor is 9 feet high and there is no
basement. (Note add 6 inches for ceiling joists). The upper storey has two gable ends
with the distance from the second level floor to the top of the roof being 8 feet 6 inches.
What is the approximate cubic foot content of the main and upper levels?

12. Builder Anderson is considering filling a level rear area behind a new condominium
complex to permit additional parking and outside recreational areas. The area in
question measures 196' x 327' and the fill depth required is 9'6". Approximately how
many cubic yards are required (round to the nearest cubic yard)?

13. Broker/owner Johnson of ABC Realty Inc. is measuring a single-storey detached home
that has external measurement of 12.40 metres by 8.33 metres with a small addition
measuring 2.34 metres by 4.88 metres. There is no other above grade finished areas
within the structure. What is the total living area (round to the nearest square metre)?

14. Salesperson Garcia is estimating the total living area for a one and one-half storey home
with dormers. The building closely approximates the shape as illustrated in Example 3 of
Measurement Guidelines in the Appendix of the Canadian Edition of the Encyclopedia.
The main floor area measures 8.38m by 10.25m, the upper area on the second floor is
4.27m by 10.25m together with two dormers each measuring 1.9m by 2.4m. What is the
total living area (round to the nearest square metre)?

36
 SESSION 3:
MARKET, APPRAISAL, AND INTEREST CALCULATIONS

SESSION SNAPSHOT
Learning is a cumulative process particularly in the field of real estate mathematics. Real estate
transactions invariably necessitate a variety of calculations ranging from the analysis of market
trends using median and mean to the establishment of value through capitalization of income.
Rudimentary skills are presented involving techniques routinely faced by practitioners in the
marketplace. The information is introductory only, but forms a foundation for detailed
treatment in subsequent courses.

At the conclusion of this session, you will be able to:

• Demonstrate a working knowledge of mean and median.

• Perform calculations using the capitalization rate.
• Calculate simple and compound interest including mortgage interest compounded semi-
annually, not in advance.
• Optionally, learn how to use a financial calculator to determine mortgage payments and
amortization schedules.
 RealEstateMathematics
_______________________________________________________________________________

MEAN, MEDIAN, AND MODE

Real estate salespeople constantly receive market information, particularly through real estate
boards, that summarizes sales statistics based on the mean (average) and the median (mid-
point). Statisticians refer to these as measures of central tendency. In fact, means and medians
often take the spotlight when the press reports on real estate market fluctuations. While both
measures are valuable, neither deserve the status often afforded them. The professional real
estate practitioner realizes that an accurate depiction of the market comes not from one or two
measures, but rather from a host of indicators in combination with direct market data.

Mean or Average
The mean is a mathematical average: the totalling of a number of figures and dividing the result
by the number of figures used.
Example: Five selling prices of homes are:
245,000
260,000
240,000
237,000
262,000
1,244,000 ÷ 5 = $248,800 Mean (or Average) Price
Note: Mean and Average are synonymous for purposes of the workbook and Encyclopedia.

Median
The median is the middle figure in an array of figures ordered from smallest to largest or vice
versa. Using the prior example, the median is $245,000.
237,000
240,000
245,000 Median Price
260,000
262,000
If there is not an exact mid-point (e.g., as in the case of an even number of figures instead of an
odd number of figures), then the median is the average between the two numbers occupying
the mid-point position.
232,000
237,000
240,000 (240,000 + 245,000) ÷ 2 = $242,500 Median Price
245,000
260,000
262,000

38
Mode
As all statisticians know, there is a third measure of central tendency called the mode. The mode
represents the most frequently appearing number in an array of figures. Since a grouping of real
estate sales prices (particularly in the residential resale market) rarely has several properties
transacting at exactly the same price, the mode has little relevance and is normally not
referenced in real estate analysis. It should be noted that while the most frequent sales price is
not used, practitioners value information concerning frequency of sales within certain price
ranges; e.g., number of sales between $100,001 and $150,000, $150,001 and $200,000, etc. This
type of data is important in understanding what price ranges are most active. However, such
analysis is focused on overall statistical distribution of sales and is largely unrelated to the mode.

Mean, Medians, and Market Trends

The ability to analyze measures of central tendency can be highly relevant in discussions with
buyers and sellers. But don't be too quick to make snap decisions. Practitioners, as well as the
press, can misunderstand trends in means and medians. Often, a decline or increase in the
average price or median price is taken as an indication that real estate prices are falling or rising.
In fact, this is only one possible explanation.
• The mean and median may move due to increased sales activity in lower or higher ranges.
Such shifts in the distribution of sales may result in a corresponding movement of mean and
median.
• The mean and median may move due to an increased sales activity in a particular price
range, higher or lower prices being paid for houses, or a combination of the two.
• In some instances, average and median prices may move abruptly. This often reflects too
few sales in a particular neighbourhood. Extremely high or low sale prices can cause both
mean and median to swing dramatically. Of the two measures, the average is more volatile.
• To complicate matters further, real estate boards often combine statistics of various
housing types and neighbourhoods within a particular geographic area (trading zone).
Consequently, the figures are at best a generalization; i.e., some neighbourhoods and
housing types may be rising, with others stable or falling.

The bottom line W interpret statistical information carefully.

 RealEstateMathematics
_______________________________________________________________________________

EXERCISES
EXERCISE 1: Recent Sales
Salesperson Garcia of ABC Realty Inc. has obtained information about nine recent sales on one
street in Westville with selling prices of:

239,000 229,500 198,700 194,500 244,000

189,900 298,000 236,500 232,450

(a) What are the median and mean (average) prices?

Median ________________________ Mean ___________________________

(b) If Garcia wanted to use these figures in making a listing presentation and possibly establish
market value for property on that street, what cautions apply (be specific)?

EXERCISE 2: Mathematical Calculations

The three parts of this question involve the following array of figures:
310,000 315,600 319,200 310,000 323,500 312,000
311,900 310,000 313,900 312,900 318,700

The mathematical average of the above figures is:

(a) 312,900 (b) 313,927 (c) 348,777 (d) 314,336

The median is:

(a) 313,900 (b) 312,900 (c) 315,600 (d) 310,000

The mode (most frequently occurring number) is:

(a) 312,000 (b) 310,000 (c) 313,900 (d) 300,000

40
Exercise 3: The Three Year Analysis
Salesperson Lee has been tracking sale prices of similarly sized bungalows located in a small
neighbourhood for the past three years. All have more or less the same general features.
Year 1 sales: 106,000 105,500 107,300 109,500 113,200 102,600
110,550 107,500 105,650
Year 2 sales: 110,000 109,600 103,500 112,000 114,600 113,250
108,000 107,000 109,300 114,240 114,400 113,600 112,750
Year 3 sales: 109,500 116,350 117,400 113,230 112,500 113,990
113,600 115,200 115,360 109,500 109,900 114,000
117,530 111,900 114,900 113,750 113,790

(a) Based on these figures, what are the median and mean (average) prices for all three years?
Year 1: Median ___________________ Mean __________________

Year 2: Median ___________________ Mean __________________

Year 3: Median ___________________ Mean __________________

(b) What reasonable conclusions can be made regarding the value of similarly sized bungalows
over the time period in question (round calculations to the nearest dollar)?

EXERCISE 4: Mathematical Calculations

The three parts of this question involve the following array of figures:
219,000 238,900 218,000 229,000 219,000 227,400 247,500
221,300 219,000 219,000 245,200 231,100 227,400 216,000 241,800

The mode is:

(a) 215,000 (b) 245,500 (c) 227,400 (d) 219,000

The median is:

(a) 247,500 (b) 227,400 (c) 219,000 (d) 216,000

The average is:

(a) 341,962 (b) 227,973 (c) 216,000 (d) 247,500
 RealEstateMathematics
_______________________________________________________________________________

Please refer to:

Mortgage Payment Factors in the appendix at the back of this booklet

________________________________________________________________________

SIMPLE AND COMPOUND INTEREST

Given the high percentage of mortgaged homes, real estate practitioners are routinely dealing
with a host of calculations involving mortgages.
In its simplest terms, interest is the amount paid by a borrower to a lender for the use of
that particular lender's money. Interest rate is the rate charged for each time period for the use
of a particular lender's money. The time element is vital. For example, the interest rate on a
mortgage can be quoted as 7.5% per year, while the interest rate on a charge account can be
quoted as 1.5% per month. All the interest rate does then is distinguishing the time period over
which the interest is calculated. There are two types of interest: simple interest and compound
interest. However, the method used to calculate the interest in each case can make a big
difference to the total amount of interest being paid by the borrower.
A working knowledge of interest calculations provides a solid foundation in preparation
for technical discussions in later courses. It is important to read all Encyclopedia references.

Calculating Simple Interest

Simple interest is interest on the principal only. Simple interest occurs when the loan is taken
out for a short period of time and the principal is paid in full along with the interest accrued. The
formula is as follows:

Simple interest = Principal Amount x Interest Rate x Time

or i = P x R x T
where:
i = interest payable on the principal amount of the loan
P = principal owing
R = rate of interest charged
T = length of time

Note: Length of Time is usually expressed as a percentage per year; if less than one year, an
appropriate decimal is inserted. For example, if the term is only four months, T is 4/12; if the
term is for six months, then T is 6/12 or 50%; if the term is for one year, then T is 1.

42
Example: Seller Smith has a personal loan of $2,000 for a period of one year at an annual
interest rate of 8% with no compounding.
PxRxT=i
$2,000 x .08 x 1.0 = $160.00
If the term is only four months, the interest is: $2,000 x .08 x 4/12 = $53.33

Example: Seller Smith has a loan of $10,000 for exactly two and one-half years at 12% per year.
The amount due at the end of that time would be:
PxRxT=i
$10,000 x .12 x 2.5 = $3,000
Balance owing: $10,000 + $3,000 = $13,000

Calculating Compound Interest

Compound interest is interest on both the original principal and on the interest accrued. The
formula for calculating compound interest is more complicated since it involves calculating
interest not only on the principal, as in the case of simple interest, but also on the accruing
interest. Compound interest is the type of interest used most frequently in residential
mortgages. In the case of compound interest, the interest is charged at a specified time interval
W monthly, daily, quarterly, or semi-annually. Since the actual arithmetic involved in producing
compound interest is quite complex as shown in the following example, most financial
institutions use computerized mortgage tables.

Example: Seller Smith has a loan of $10,000 with an interest rate of 1% per month (instead of
12% per annum).

Principal Amount Month 1: $10,000

Interest Month 1 (P x R x T = i) $10,000 x .12 x 1/12 = $100.00
Principal Amount Month 2: $10,100
Interest Month 2 $10,100 x .12 x 1/12 = $101.00
Principal Amount Month 3: $10,201.00

If the remaining months were calculated, by the end of Month 12 the amount owing would be
$11,268.25. The compounding has generated a higher return for the lender:

$11,268.25 W 10,000 = $1,268.25

or 12.68% return on the $10,000 principal amount.
 RealEstateMathematics
_______________________________________________________________________________

Making Compounding Easier

A formula has been developed to simplify the interest calculation process and avoid time
consuming monthly calculations:
A = P (1 + i)n
Where:
A = Compounded amount
P = Principal (original) amount ($10,000)
i = Interest rate per period (1/12 of 12% or 1%)
n = Number of periods W expressed as a power (12)
1 = Represents a unit of value

Consider the example illustrated under Calculating Compound Interest:

A = $10,000 (1 + .01)12
A = $10,000 (1.01)12
A = $10,000 (1.126825)
A = $11,268.25
An abbreviated version of the formula can be used to calculate only the rate of interest:
R = (1 + i)n W 1
R = (1 + .01)12 - 1
R = 1.126825 W 1
R = .126825
R = 12.68%
The nominal rate is the stated (named or face) rate. In the previous example, it was 12% per
year. The effective rate is the actual rate including compounding. In the example, when
compounded monthly, the annual effective rate is 12.68%.

4
CANADIAN MORTGAGES
Conventional and High-Ratio Mortgages
• Conventional Mortgage: In accordance with federal and provincial legislation, chartered
lending institutions entrusted with public funds are not permitted to arrange first mortgages
in excess of 75% of the appraised value of the property. Loans above this amount must be
insured by a government agency such as CMHC or a private agency such as GE Capital
Mortgage Insurance Canada.
• High-Ratio Mortgage (or Privately Insured): a mortgage loan that exceeds the normal limit
of a conventional first mortgage, with regard to the percentage of the loan amount to the
property's lending value, and which is insured through a mortgage insurance plan. The
phrase high ratio refers normally to mortgages arranged through a chartered lending
institution where the loan amount exceeds 75% of the purchase price or appraised lending
value, whichever is the lesser amount. Federal legislation covering banks, insurance
companies, loan, and trust companies are permitted to make mortgage loans higher than
75% provided that such mortgages are insured.

Mortgage Insurance
In all cases where a borrower uses high-ratio financing where the loan-to-value ratio is greater
than 75%, the mortgage balance must be insured at a cost to the borrower. This form of
insurance is not for the protection of the borrower, but for the protection of the lender. Should
the borrower default, the loan will be repaid by the insurance company (or CMHC) who then
assumes the title to the property and disposes of it to settle as much of the debt as possible. Do
not confuse this form of insurance with the life insurance offered by many lenders which repays
the loan in the event that the borrower dies.

Nominal and Effective Interest Rates

Most discussions of mortgage interest rates centre on the nominal rate. For example, a first
mortgage will be stated as having an interest rate of 7%. This is the face or nominal rate. The
effective rate of interest is the true rate of interest, given any compounding factor within the
mortgage.
Statutory requirements in Canada dictate that blended payment mortgages must be
calculated either annually or semi-annually, not in advance. The semi-annual effective rate is
slightly higher than the nominal annual rate, owing to the twice-yearly compounding factor. If
no compounding factor is present, then nominal and effective rates are the same.

Amortization
Amortization refers to the repayment of a debt over a period of time in a series of regular
payments of principal and interest. Amortization period is defined as the time period required to
completely retire the mortgage debt through scheduled payments of principal and interest.
Mortgage payment factors in Appendix B of this Workbook provide various amortization periods
along with appropriate blended payments of principal and interest that comply with
requirements of the Interest Act.
 RealEstateMathematics
_______________________________________________________________________________

Monthly Interest Factor

To understand the importance of monthly interest factors, a brief review of the Interest Act is
required. The Interest Act, a federal statute, provides that in those cases where the principal
and interest payments are blended, the mortgagee cannot recover any interest at all unless the
mortgage document contains a statement showing the amount of such principal and the
interest rate charged on it calculated yearly or half yearly, not in advance.
The phrase "calculated not in advance" simply means that the interest is calculated as
due at the end of each compounding period and principal payments must be credited against
the amount owing when they are made. It should be noted that this Act applies only where
principal and interest payments are blended. The reasoning appears to be that since the interest
amount is hidden in the blended payment, the borrower has no way of knowing just how much
interest, or at what rate he/she is paying. The Interest Act does not attempt to control the rate
of interest being charged, but requires that the effective rate of interest be quoted.
The word calculated, as used in the Act, is synonymous with compounded. The more
frequently interest is compounded, the greater the return to the lender. Given the two choices
of yearly or half yearly, lenders invariably select calculated semi-annually not in advance. This
requirement creates a problem. How does the lender reconcile the fact that the Interest Act
permits the compounding of interest every six months, yet the mortgage calls for monthly
payments of principal and interest? To accommodate this, the lender builds into the monthly
interest charge a rebate to the borrower to compensate for the more frequent payments. As an
example, if a borrower arranged a mortgage of $10,000 at an interest rate of 6% per annum
compounded semi-annually, then (assuming no interest payments in the interim) at the end of
six months, he/she would be charged interest of $300 and owe the lender $10,300. However, if
the lender compounded monthly instead of semi-annually (that is, charged ½ of 1% or .005 per
month), the interest would total approximately $303.77.
On a blended payment mortgage, the lender would be prohibited from charging
$303.77, and of course there is the added complication of monthly payments of principal and
interest. The lender therefore charges a monthly interest rate somewhat less that .005. In this
instance, the monthly interest factor is .0049386024. This is the interest factor for the
calculation of interest for 1 month at 6% per annum compounded semi-annually.
If you want to know what portion of a blended mortgage payment is interest, monthly
interest factors are provided in Appendix B: Monthly Interest Factors of this Workbook. The
interest portion of a payment is determined by multiplying the appropriate Interest Factor for
$1.00 by the mortgage amount.

Example:
Mortgage Amount: $10,000
Interest rate: 7.25%
Look up interest factor for 1 month: .0059523582
Monthly Mortgage Interest is: $10,000 x .0059523582 = $59.52

46
  NOTE ➔
Effective Rates and Mortgages
The role of effective versus nominal rates is particularly important in mortgages with blended
payments (containing interest and principal portions). The Interest Act is a federal statute,
states that mortgage interest must be calculated (calculated is synonymous with compounded)
annually or semi-annually, not in advance. Practically all lenders use semi-annual. In such
calculations, the Interest Act sets out various requirements.
• The effective rate cannot be more than one half of the stated annual rate.
• Interest must be based on principal owing at the end of the period instead of the beginning.
• The two interest periods for the year must be equivalent interest rates.
• Mortgage Payment Factors (Canadian Edition of Encyclopedia: Appendix reflects
requirements of the Interest Act.

Using Monthly Payment/Amortization Tables

Amortization of a mortgage refers to the method of repaying the principal over a period of time
in a series of regular payments. To simplify the calculation of the monthly payments required to
amortize a mortgage loan, most lenders use some form of mortgage payment or amortization
tables.

Calculating Monthly Blended Payments

The mortgage payment factors for mortgages provided in the Appendix of the Canadian Edition
of the Encyclopedia can be used to calculate monthly blended payments.
Example: A mortgage of $75,750 amortized over 25 years at an interest rate of 10 1/2%.
1 Month Factor for 10 1/2% with 25 year amortization = 9.283297
Monthly payment = Factor x Mortgage Amount in Thousands
9.283297 x $75.750 = $703.21

Calculating the Interest Portion of a Blended Payment

To determine the actual interest portion in a blended payment, use the Monthly Interest Factor
Tables provided in the Real Estate Encyclopedia.
Example: Mortgage at 10.5% with an outstanding balance of $75,750.
The interest factor, using the 1 month factor, for 10.5% is .0085644722.
Using this, the interest portion of the current monthly payment would
be calculated as follows:
.0085644722 x 75,750 = $648.76
 RealEstateMathematics
_______________________________________________________________________________

48
 Math Module Answer Key
SESSION 1: Basic Mathematical Calculation/Metric Conversions

Exercise 1: Fractions, Decimals, and Percentages

1. Fractions to decimals 2. Percentages to decimals

and percentages

1/4 .25 25% 9% .09

3/8 .38 38% 11.5% .115
9/16 .56 56% 23 1/2% .235
23/64 .36 36% 216% 2.16
123/144 .85 85% 1/4 of 1% .0025
1/2 of 1% .005

3. Decimal and Fraction addition 4. Subtraction

12.5 12,234.75
13.5 18.5
8.25 2.125
14.05 725.0
18.5 4.897
16.073
2.333
85.206

5. Multiplication 6. Division

337.5 3.444
239.25 .370
.434 2.667
325.94 7.227
5.857 1.667
 RealEstateMathematics
____________________________________
__________________________________________________

Exercise 2: Percentages

1. $127,660 ($120,000 ÷ .94 = $127,660)

2. $3,870 ($129,000 x .06 = 7,740 (total commission) x .50 = $3,870)
3. 13.33% (32 ÷ 240 = .133333 x 100 = 13.33%)
4. GST: $719.95 ($187,000 x .055 = 10,285 (total commission) x .07 = $719.95)
5. $5,988.50 per month ($1,796.55 ÷ .30 (30%) = $5,988.50)
6. 13,068 square feet (43,560 W (43,560 x .10) = 39,204 ÷ 3 = 13,068)
7. 325 homes have 4 bedrooms (1300 x .25 = 325)
819 homes have 3 bedrooms (1300 x .63 = 819)
8. $117,500 ($94,000 ÷ .80 = $117,500)
9. 95% ($199,500 ÷ 209,900 = .9504 x 100 = 95% (rounded))
10. House A: 93% ($149,900 W 10,000 ÷ 149,900 = .9332 x 100 = 93% (rounded))
House B: 95% ($229,900 ÷ 241,000 = .9539 x 100 = 95% (rounded))
11. $175,022.22 ($7,876 ÷ .045 = $175,022.22)
12. $118,125 ($125,000 x .945 = $118,125)
13. 2.34% ($8.75 W 8.55 = .20 ÷ 8.55 x 100 + 2.339% (rounded))
3.43% ($9.05 W 8.75 = .30 ÷ 8.75 x 100 = 3.428% (rounded))
Total rent for next year is $31,675 (3,500 x $9.05 = $31,675)
14. (1.33%) ($185,000 W 187,500 = -2,500 ÷ 187,500 x 100 + -1.333%)
15. Forecasted Sales = 231 (210 x 1.1 = 231) or (210 + 10% = 231)
Total sales volume: 231 x $123,500 = $28, 528, .500
Sales volume per salesperson: $28,528,500 ÷ 15 = $1,901,900
Number of sales per salesperson: $1,901,900 ÷ $123,500 = 15.4 sales per person
16. $2,265 ($75,500 x .05 x .60 = $2,265)
17. Total commission: $8,970 ($149,500 x .06 = $8,970)
Listing commission: $8,970 x .50 = $4,485 = Selling commission
Listing salesperson: $4,485 x .50 = $2,242.50
Selling salesperson: $4,485 x .60 = $2,691
18. $98,500 (rounded) ($6,205 ÷ .90 = 6,894.44 ÷ .07 = 98,492.06)
19. $45,500
$500,000 x .06 = 30,000
$500,000 x .02 = 10,000
$550,000 x .01 = 5,500
Total: 45,500

2
20. $7,667.39 ($149,900 W 7%) = $139,407 x 5.5% = $7,667.385)
21. $1,971 ($109,500 x .045 = 4,927.50 x .4 = $1,971)
22. $140,000 (($4,200 x 2) ÷ .06 = $140,000)
23. Salesperson Lee: $4,565.63
XYZ Salespeople: $1,826.25 each
$243,500 x .05 ÷ 2 = $6,087.50 (both brokerages shared equally in total comm.)
Salesperson Lee: $6,087.50 x .75 = $4,565.63 (rounded)
Two XYZ Salespeople: $6,087.50 ÷ 2 x .60 = $1,826.25 each
24. Yes (6% + 3.5% = 9.5% = .095)
$155,000 W (.095 x 155,000) = 155,000 W 14,725 = $140,275
(or enter 155,000 W 9.5%)

25. $166,000 ($120,000 + 24,000 (20% profit) + 22,000 = $166,000

minimum)
 RealEstateMathematics
____________________________________
__________________________________________________

Exercise 3: Metric/Imperial

1. Imperial Metric

a. 15 acres 6.07 hectares (3)

b. 9 1/2 acres 3.84 hectares (7)
c. 22.5 feet 6.86 metres (8)
d. 9.75 acres 3.95 hectares (10)
e. 1,325 square feet 123.09 square metres (1)
f. 0.50 acres 0.20 hectares (5)
g. 940 square feet 87.33 square metres (9)
h. 9 feet, 6 inches 2.90 metres (2)
i. 7.20 acres 2.91 hectares (6)
j. 1,210.25 square feet 112.43 square metres (4)

2. Imperial Metric

Living Room: [_˘[ 4.42m x 5.49m

Dining Room: [_˘[_ 5.03m x 3.73m
Kitchen: [ı_˘[_ 3.28m x 3.51m
Master Bedroom: ı[˘[_ 5.79m x 4.95m
Bedroom: [˘[_ 3.66m x 3.51m
Bedroom: [_˘ı[ı_ 3.81m x 2.97m

3. Yes, he will meet the minimum requirement of 3,000 square metres.

(38.25m x 40.46m) + (41.53m x 39.55m) = 1,547.60 + 1,642.51 = 3,190.11 square
metres.

Individual measurements were converted and then rounded to two decimals prior to
subsequent calculations; minor answer differences will occur if square footage of each lot
is determined, then totaled, and finally converted to metric. Answer in this case will be
3,190.06. In either case, Jones will meet minimum requirements.

4. Master Bedroom: 5.19m x 3.66m [˘[

Bedroom: 3.28m x 3.05m [ı_˘[
Bedroom: 3.20m x 2.82m [_˘ı[_

5. T}oL}S]W[_˘[AıU(}Uu~}vZXL}
meets minimum requirement.

Maximum Main Level Floor Area: 29,300 x 15% = 4,395 square feet or 408 square metres.

6. c
9. a
7. d
10. b
8. b

4
SESSION 2: Area and Volume Calculations

Exercise 1: Multiple Choice and Calculations

1. c (9.8 x 15.7) W (6.1 x 1.8) W (5.5 x 1.1) W (9.8 x 1.5) = 153.86 W 10.98 W 6.05 W 14.7 =
122.13 square metres

2. a (8.9 x 14.5) W (2.7 x 1) W (12.5 x 1.4) W (3.1 x 1.5) = 129.05 W 2.7 W 17.5 W 4.65 = 104.2
square metres

3. c (11.5 x 8.8) W (3.1 x 1.4) W (3.4 x 1.1) W (7.8 x 1.1) = 101.20 W 4.34 W 3.74 W 8.58 = 84.54
square metres

4. c 1/2 (40.2 x 30.6) = 615.06 square metres

5. b. ((64 + 85) ÷ 2) x 23 = 1,713.50 square metres

6. d 26 x 75 = 1,950 square metres

7. d (25.5 + .5) x 960 x $4.50 = $112,320

8. a 34 x 24 x 14 = 11,424 cubic feet

9. $2,300 (rounded)
24 x 40 x .25 = 240 cubic feet ÷ 27 = 8.89 cubic yards
8.89 x 3 houses = 26.67 cubic yards x $87.50 = $2,333.63 (round to nearest $100)

10. $105,900 (rounded)

˘˘XæAU](~_u}R]PRuuvZ
20,880 ÷ 27 = 773.33 cubic yards x $137.00 = $105,946.21 (round to nearest $100)

11. Main Level: 8,208 cubic feet (36 x 24 x 9.5 = 8,208)

Upper Level: 3,672 cubic feet ((36 x 24 x 8.5) ÷ 2 = 3,672)
Total: 11,880

12. 22,551 cubic yards (rounded)

196 x 327 x 9.5 = 608,874 cubic feet
608,874 ÷ 27 = 22,550.88 cubic yards (round to nearest cubic yard)

13. 115 square metres (rounded)

(12.40 x 8.33) + (2.34 x 4.88) = 103.29 + 11.42 = 114.71 square metres (round to
nearest square metre)

14. 139 square metres (rounded)

(8.38 x 10.25) + (4.27 x 10.25) + 2 x (1.9 x 2.4) = 85.90 + 43.77 + 9.12 = 138.79 square
metres
 RealEstateMathematics
____________________________________
__________________________________________________

SESSION 3: Market, Appraisal, and Interest Calculations

Exercise 1: Recent Sales

a. Median Price: $232,450

Average Price: $229,172 (rounded) ($2,062,550 ÷ 9)

b. Cautions include:
• wide variances of prices (probably owing to different housing styles)
• Garcia should only include comparable properties in her analysis
• The average and median prices have limited value given the small sample of nine
homes
• Garcia might want to look at overall average and median prices for the entire area as a
general indicator, but even those figures should be used with caution.

Exercise 2: Mathematical Calculations

Average: d
Median: b
Mode: b

Exercise 3: The Three Year Analysis

a. Median Price Mean Price (Average)

Year 1 $107,300 $107,533
Year 2 $112,000 $110,942
Year 3 $113,790 $113,671

b. Given similarity of houses, the value of bungalows in this area appears to be rising (as
confirmed by consecutive increases in both Year 2 and Year 3). Both average and median
prices have risen in similar fashion further supporting a general increase within this
particular neighborhood and type of housing. Sales activity has increased over the three
year period.

Exercise 4: Mathematical Calculations

Mode: d
Median: b
Average: b

6
Measurement Guidelines (Residential)

Measurement Guidelines (Residential)

Example 1 One-Storey Example 2 One and One-Half Storey

Area B 26 26
40

2nd
Area A 32
Main Floor 32
26 Area A Area A Floor
Area
Area A B
Area B 2
16
14

Area A—Main Floor 26 x 40 = 1,040 sq ft Area A—Main Floor 26 x 32 = 832 sq ft

Area B—Main Floor 2 x 16 = 32 sq ft Area B—Second Floor 32 x 14 = 448 sq ft
House area based on guidelines 1,072 sq ft House area based on guidelines 1,280 sq ft

Measurement Method Measurement Method

Measure exterior dimensions. Measure exterior dimensions. Except for 1/2 storey.

Calculation Calculation
Length x Width of Exterior +/– Jogs Length x Width (see Areas A & B above)

Exterior Dimensions Exterior Dimensions

Show length and width of exterior dimensions and show length Show length and width of exterior dimensions and show length
and width of jogs. and width of any jogs.

Note: The length of the 2nd floor area will usually be the same
as the length of the main floor but the width between vertical 1
interior walls of the 2nd floor can only be obtained by measurement.

Example 3 One and One-Half Storey Example 4 Bi-Levels

(With Dormers)

Dormer— 5 x 7 36
Area B C& 26 26
D Area A
Area A
30
2nd C Upper Level Only
32
Main Floor For Bi-Levels
Area A Floor 32

Area
Area A B D

14

Dormer— 5 x 7

Area A—Main Floor 26 x 32 = 832 sq ft Area A—Upper Level 36 x 30 = 1,080 sq ft

Area B—Second Floor 32 x 14 = 448 sq ft House area based on guidelines 1,080 sq ft
Area C&D—Second Floor 2 x (5 x 7) = 70 sq ft
House area based on guidelines 1,350 sq ft Measurement Method
Use exterior dimensions only.
Measurement Method Calculation
Use exterior dimensions only. Except for 1/2 storey. Length x Width of Exterior +/ Jogs of One Level Only
Calculation Exterior Dimensions
Length x Width (see Areas A, B, C, & D above) Show length and width of exterior dimensions and show length
and width of any jogs.
Exterior Dimensions
Show length and width of exterior dimensions and show length
and width of jogs.
Example 5 Three Level Split Example 6 Four Level Split

Measurement Guidelines (Residential)

Upper Level
Bedrooms
40
Main Fl. Upper
40 Area B Level and
Area A
26 Area A Lower 28
B.R.'s Living Levels
Area A Lower
26 Area A 28 Level Areas
Living B&C
Area C
24
Bsmt.
Bsmt. Crawl Space 16
Crawl Space 24 Area B 2
16

Area A

Area A—Main & Upper Floor 26 x 40 = 1,040 sq ft Area A—Main Floor 26 x 24 = 624 sq ft
Area B—Upper Overhang 2 x 16 = 32 sq ft Area B and Area C 2 x (16 x 28) = 896 sq ft
House area based on guidelines 1,072 sq ft House area based on guidelines 1,520 sq ft

Measurement Method Measurement Method

Use exterior dimensions. Use exterior dimensions.

Calculation Calculation
Length x Width of Exterior +/– Jogs of One Level Only Length x Width of Exterior For Each Level Totally Above Grade
+/- Jogs
Exterior Dimensions 2
Show length and width of exterior dimensions and show length Exterior Dimensions
and width of jogs. Show length and width of exterior dimensions and show length
and width of any jogs.

Example 7 Four Level Split With Built- Example 8 Basic Two-Storey

In Garage
Main Floor Family Room
Beside Garage and Below
Bedrooms
28
Area A
B.R.'s 40
Area B
Area A 12 Main & 2nd
Area B Floors
Blt-In Garage Living
With Fam Rm 14 28
(B) Beside It 26 Area A Area A Areas A & B
Bsmt.

Area A—Main Floor & Bedrooms 26 x 40 = 1,040 sq ft Area A—Main Floor 28 x 28 = 784 sq. ft
Area B—Family Room 12 x 14 = 168 sq ft Area B—Second Floor 28 x 28 = 784 sq ft
House area based on guidelines 1,208 sq ft House area based on guidelines 1,568 sq ft

Measurement Method Measurement Method

Use exterior dimensions. Use exterior dimensions.

Calculation Calculation
Length x Width of Exterior For Each Level Totally Above Grade Length x Width of Exterior x 2 +/- Jogs
+/- Jogs – Garage
Exterior Dimensions
Exterior Dimensions Show length and width of exterior dimensions and show length
Show length and width of exterior dimensions and show length and width of jogs.
and width of jogs.
Example 9 Two-Storey With Built-In Example 10 Two and One-Half Storey

Measurement Guidelines (Residential)

Garage 24

40
1st and 2nd
Area C Floors
2nd Floor Bedrooms 24
30
Bedrooms Areas A & B
Area B
Area B Area B
26
Living
Garage Main Floor
Area A Living Area
30 3rd Floor
Area A
Area A 24
Bsmt. Area C

Built-In
Garage
13

Area A—Main Floor Without Garage 26 x 30 = 780 sq ft Area A & B—1st & 2nd Floor 2 x (24 x 24) = 1,152 sq ft
Area B—Bedrooms 30 x 40 = 1,200 sq ft Area C—Third Floor 13 x 24 = 312 sq ft
House area based on guidelines 1,980 sq ft House area based on guidelines 1,464 sq ft

Measurement Method Measurement Method

Use exterior dimensions. Use exterior dimensions. Except for 1/2 storey.

Calculation Calculation
Length x Width of Exterior x 2 +/– Jogs – Garage Length x Width (see Areas A, B, & C above)

Exterior Dimensions Exterior Dimensions

Show length and width of exterior dimensions and show length Show length and width of exterior dimensions and show length 3
and width of jogs. and width of any jogs.

Example 11 Two-Storey (Open Two-Storey Example 12 Two-Storey With Vault/Slope

Foyer/Other, From Main)

28 26 26

Area B Area B
Main Floor
Main & 2nd
Floors
28 32 2nd Floor
Area A Areas A & B Area A Area A Area B

The standard to use when measuring a home with an area open Where the two-storey walls are full height on one side the area
the full two storeys, is to measure the exterior dimensions and should be measured as two floors. The area beneath the slope
double for the two storeys, minus the interior open area on the opposite side would be measured as one floor. The
measurement. vaulted ceiling area should not cause a doubling of the area.
Any lofts or catwalks should be measured separately and added
to the living area.
Example 13 Walkout Basement Example 14 A Frame

Measurement Guidelines (Residential)

28
Area B
Area B Main & 2nd
Floors

28 Area A
Area A Areas A & B
Not C
Ground A frame construction with no knee walls should be measured
Area C Level
from point to point on both main and second floors.
Ground Level

A walkout basement occurs when a home is built on a sloped

area so that the main entry is at ground level at the front of the
house and the level below that (basement) opens out on the
opposite side of the house at the lower ground level. The square
footage of this lower basement area is not included in the living
area measurement for listing purposes.

Source: Alliance for Canadian Real Estate Education

Caution

These residential measurement guidelines are provided for information purposes only by the Alliance for Canadian Real
Estate Education. At the present time, no standard procedures have been approved throughout Canada. Practitioners 4
should fully investigate local practices.
Metric/Imperial Conversion Factors

Metric / Imperial Conversion Factors

Hectare/Acre Conversion

HECTARES TO ACRES ACRES TO HECTARES

1 Hectare = 2.471 Acres 1 Acre = 0.404686 Hectares

# Hectares x 2.471 = # of Acres # Acres x 0.404686 = # of Hectares

Hectares Acres Hectares Acres Acres Hectares Acres Hectares

1 2.471 60 148.260 1 0.404686 60 24.281160
2 4.942 61 150.731 2 0.809372 61 24.685846
3 7.413 62 153.202 3 1.214058 62 25.090532
4 9.884 63 155.673 4 1.618744 63 25.495218
5 12.355 64 158.144 5 2.023430 64 25.899904
6 14.826 65 160.615 6 2.428116 65 26.304590
7 17.297 66 163.086 7 2.832802 66 26.709276
8 19.768 67 165.557 8 3.237488 67 27.113962
9 22.239 68 168.028 9 3.642174 68 27.518648
10 24.710 69 170.499 10 4.046860 69 27.923334
11 27.181 70 172.970 11 4.451546 70 28.328020
12 29.652 71 175.441 12 4.856232 71 28.732706
13 32.123 72 177.912 13 5.260918 72 29.137392
14 34.594 73 180.383 14 5.665604 73 29.542078
15 37.065 74 182.854 15 6.070290 74 29.946764
16 39.536 75 185.325 16 6.474976 75 30.351450
17 42.007 76 187.796 17 6.879662 76 30.756136
18 44.478 77 190.267 18 7.284348 77 31.160822
19 46.949 78 192.738 19 7.689034 78 31.565508
20 49.420 79 195.209 20 8.093720 79 31.970194
21 51.891 80 197.680 21 8.498406 80 32.374880
22 54.362 81 200.151 22 8.903092 81 32.779566 1
23 56.833 82 202.622 23 9.307778 82 33.184252
24 59.304 83 205.093 24 9.712464 83 33.588938
25 61.775 84 207.564 25 10.117150 84 33.993624
26 64.246 85 210.035 26 10.521836 85 34.398310
27 66.717 86 212.506 27 10.926522 86 34.802996
28 69.188 87 214.977 28 11.331208 87 35.207682
29 71.659 88 217.448 29 11.735894 88 35.612368
30 74.130 89 219.919 30 12.140580 89 36.017054
31 76.601 90 222.390 31 12.545266 90 36.421740
32 79.072 91 224.861 32 12.949952 91 36.826426
33 81.543 92 227.332 33 13.354638 92 37.231112
34 84.014 93 229.803 34 13.759324 93 37.635798
35 86.485 94 232.274 35 14.164010 94 38.040484
36 88.956 95 234.745 36 14.568696 95 38.445170
37 91.427 96 237.216 37 14.973382 96 38.849856
38 93.898 97 239.687 38 15.378068 97 39.254542
39 96.369 98 242.158 39 15.782754 98 39.659228
40 98.840 99 244.629 40 16.187440 99 40.063914
41 101.311 100 247.100 41 16.592126 100 40.468600
42 103.782 200 494.200 42 16.996812 200 80.937200
43 106.253 300 741.300 43 17.401498 300 121.405800
44 108.724 400 988.400 44 17.806184 400 161.874400
45 111.195 500 1,235.500 45 18.210870 500 202.343000
46 113.666 600 1,482.600 46 18.615556 600 242.811600
47 116.137 700 1,729.700 47 19.020242 700 283.280200
48 118.608 800 1,976.800 48 19.424928 800 323.748800
49 121.079 900 2,223.900 49 19.829614 900 364.217400
50 123.550 1000 2,471.000 50 20.234300 1000 404.686000
51 126.021 2000 4,942.000 51 20.638986 2000 809.372000
52 128.492 3000 7,413.000 52 21.043672 3000 1,214.058000
53 130.963 4000 9,884.000 53 21.448358 4000 1,618.744000
54 133.434 5000 12,355.000 54 21.853044 5000 2,023.430000
55 135.905 6000 14,826.000 55 22.257730 6000 2,428.116000
56 138.376 7000 17,297.000 56 22.662416 7000 2,832.802000
57 140.847 8000 19,768.000 57 23.067102 8000 3,237.488000
58 143.318 9000 22,239.000 58 23.471788 9000 3,642.174000
59 145.789 10000 24,710.000 59 23.876474 10000 4,046.860000
Metre/Foot Conversion

Metric / Imperial Conversion Factors

METRES TO FEET FEET TO METRES
1 Metre = 3.281 Feet 1 Foot = 0.3048 Metres

# Metres x 3.281 = # of Feet # Feet x 0.3048 = # of Metres

Metres Feet Metres Feet Feet Metres Feet Metres

1 3.281 60 196.860 1 0.3048 60 18.2880
2 6.562 61 200.141 2 0.6096 61 18.5928
3 9.843 62 203.422 3 0.9144 62 18.8976
4 13.124 63 206.703 4 1.2192 63 19.2024
5 16.405 64 209.984 5 1.5240 64 19.5072
6 19.686 65 213.265 6 1.8288 65 19.8120
7 22.967 66 216.546 7 2.1336 66 20.1168
8 26.248 67 219.827 8 2.4384 67 20.4216
9 29.529 68 223.108 9 2.7432 68 20.7264
10 32.810 69 226.389 10 3.0480 69 21.0312
11 36.091 70 229.670 11 3.3528 70 21.3360
12 39.372 71 232.951 12 3.6576 71 21.6408
13 42.653 72 236.232 13 3.9624 72 21.9456
14 45.934 73 239.513 14 4.2672 73 22.2504
15 49.215 74 242.794 15 4.5720 74 22.5552
16 52.496 75 246.075 16 4.8768 75 22.8600
17 55.777 76 249.356 17 5.1816 76 23.1648
18 59.058 77 252.637 18 5.4864 77 23.4696
19 62.339 78 255.918 19 5.7912 78 23.7744
20 65.620 79 259.199 20 6.0960 79 24.0792
21 68.901 80 262.480 21 6.4008 80 24.3840
22 72.182 81 265.761 22 6.7056 81 24.6888
23 75.463 82 269.042 23 7.0104 82 24.9936
24 78.744 83 272.323 24 7.3152 83 25.2984
2
25 82.025 84 275.604 25 7.6200 84 25.6032
26 85.306 85 278.885 26 7.9248 85 25.9080
27 88.587 86 282.166 27 8.2296 86 26.2128
28 91.868 87 285.447 28 8.5344 87 26.5176
29 95.149 88 288.728 29 8.8392 88 26.8224
30 98.430 89 292.009 30 9.1440 89 27.1272
31 101.711 90 295.290 31 9.4488 90 27.4320
32 104.992 91 298.571 32 9.7536 91 27.7368
33 108.273 92 301.852 33 10.0584 92 28.0416
34 111.554 93 305.133 34 10.3632 93 28.3464
35 114.835 94 308.414 35 10.6680 94 28.6512
36 118.116 95 311.695 36 10.9728 95 28.9560
37 121.397 96 314.976 37 11.2776 96 29.2608
38 124.678 97 318.257 38 11.5824 97 29.5656
39 127.959 98 321.538 39 11.8872 98 29.8704
40 131.240 99 324.819 40 12.1920 99 30.1752
41 134.521 100 328.100 41 12.4968 100 30.4800
42 137.802 200 656.200 42 12.8016 200 60.9600
43 141.083 300 984.300 43 13.1064 300 91.4400
44 144.364 400 1,312.400 44 13.4112 400 121.9200
45 147.645 500 1,640.500 45 13.7160 500 152.4000
46 150.926 600 1,968.600 46 14.0208 600 182.8800
47 154.207 700 2,296.700 47 14.3256 700 213.3600
48 157.488 800 2,624.800 48 14.6304 800 243.8400
49 160.769 900 2,952.900 49 14.9352 900 274.3200
50 164.050 1000 3,281.000 50 15.2400 1000 304.8000
51 167.331 2000 6,562.000 51 15.5448 2000 609.6000
52 170.612 3000 9,843.000 52 15.8496 3000 914.4000
53 173.893 4000 13,124.000 53 16.1544 4000 1,219.2000
54 177.174 5000 16,405.000 54 16.4592 5000 1,524.0000
55 180.455 6000 19,686.000 55 16.7640 6000 1,828.8000
56 183.736 7000 22,967.000 56 17.0688 7000 2,133.6000
57 187.017 8000 26,248.000 57 17.3736 8000 2,438.4000
58 190.298 9000 29,529.000 58 17.6784 9000 2,743.2000
59 193.579 10000 32,810.000 59 17.9832 10000 3,048.0000
Square Metre/Square Foot Conversion

Metric / Imperial Conversion Factors

SQUARE METRES TO SQUARE FEET SQUARE FEET TO SQUARE METRES
1 Square Metre = 10.76 Square Feet 1 Square Foot = 0.09290304 Square Metres

# Square Metres x 10.76 = # of Square Feet # Square Feet x 0.09290304 = # of Square Metres

Sq. Metres Sq. Feet Sq. Metres Sq. Feet Sq. Feet Sq. Metres Sq. Feet Sq. Metres
1 10.76 60 645.60 1 0.0929030 60 5.5741824
2 21.52 61 656.36 2 0.1858061 61 5.6670854
3 32.28 62 667.12 3 0.2787091 62 5.7599885
4 43.04 63 677.88 4 0.3716122 63 5.8528915
5 53.80 64 688.64 5 0.4645152 64 5.9457946
6 64.56 65 699.40 6 0.5574182 65 6.0386976
7 75.32 66 710.16 7 0.6503213 66 6.1316006
8 86.08 67 720.92 8 0.7432243 67 6.2245037
9 96.84 68 731.68 9 0.8361274 68 6.3174067
10 107.60 69 742.44 10 0.9290304 69 6.4103098
11 118.36 70 753.20 11 1.0219334 70 6.5032128
12 129.12 71 763.96 12 1.1148365 71 6.5961158
13 139.88 72 774.72 13 1.2077395 72 6.6890189
14 150.64 73 785.48 14 1.3006426 73 6.7819219
15 161.40 74 796.24 15 1.3935456 74 6.8748250
16 172.16 75 807.00 16 1.4864486 75 6.9677280
17 182.92 76 817.76 17 1.5793517 76 7.0606310
18 193.68 77 828.52 18 1.6722547 77 7.1535341
19 204.44 78 839.28 19 1.7651578 78 7.2464371
20 215.20 79 850.04 20 1.8580608 79 7.3393402
21 225.96 80 860.80 21 1.9509638 80 7.4322432
22 236.72 81 871.56 22 2.0438669 81 7.5251462
23 247.48 82 882.32 23 2.1367699 82 7.6180493
24 258.24 83 893.08 24 2.2296730 83 7.7109523
25 269.00 84 903.84 25 2.3225760 84 7.8038554
3
26 279.76 85 914.60 26 2.4154790 85 7.8967584
27 290.52 86 925.36 27 2.5083821 86 7.9896614
28 301.28 87 936.12 28 2.6012851 87 8.0825645
29 312.04 88 946.88 29 2.6941882 88 8.1754675
30 322.80 89 957.64 30 2.7870912 89 8.2683706
31 333.56 90 968.40 31 2.8799942 90 8.3612736
32 344.32 91 979.16 32 2.9728973 91 8.4541766
33 355.08 92 989.92 33 3.0658003 92 8.5470797
34 365.84 93 1,000.68 34 3.1587034 93 8.6399827
35 376.60 94 1,011.44 35 3.2516064 94 8.7328858
36 387.36 95 1,022.20 36 3.3445094 95 8.8257888
37 398.12 96 1,032.96 37 3.4374125 96 8.9186918
38 408.88 97 1,043.72 38 3.5303155 97 9.0115949
39 419.64 98 1,054.48 39 3.6232186 98 9.1044979
40 430.40 99 1,065.24 40 3.7161216 99 9.1974010
41 441.16 100 1,076.00 41 3.8090246 100 9.2903040
42 451.92 200 2,152.00 42 3.9019277 200 18.5806080
43 462.68 300 3,228.00 43 3.9948309 300 27.8709120
44 473.44 400 4,304.00 44 4.0877338 400 37.1612160
45 484.20 500 5,380.00 45 4.1806368 500 46.4515200
46 494.96 600 6,456.00 46 4.2735398 600 55.7418240
47 505.72 700 7,532.00 47 4.3664429 700 65.0321280
48 516.48 800 8,608.00 48 4.4593459 800 74.3224320
49 527.24 900 9,684.00 49 4.5522490 900 83.6127360
50 538.00 1000 10,760.00 50 4.6451520 1000 92.9030400
51 548.76 2000 21,520.00 51 4.7380550 2000 185.8060800
52 559.52 3000 32,280.00 52 4.8309581 3000 278.7091200
53 570.28 4000 43,040.00 53 4.9238611 4000 371.6121600
54 581.04 5000 53,800.00 54 5.0167642 5000 464.5152000
55 591.80 6000 64,560.00 55 5.1096672 6000 557.4182400
56 602.56 7000 75,320.00 56 5.2025702 7000 650.3212800
57 613.32 8000 86,080.00 57 5.2954733 8000 743.2243200
58 624.08 9000 96,840.00 58 5.3883763 9000 836.1273600
59 634.84 10000 107,600.00 59 5.4812794 10000 929.0304000
General Measurements

Metric / Imperial Conversion Factors

DISTANCE IMPERIAL METRIC AREA IMPERIAL METRIC
1 inch = 2.540 centimetres 1 sq. inch = 6.452 sq. centimetres
1 foot = 0.3048 metres 1 sq. foot = 0.093 sq. metres
1 yard = 0.9144 metres 1 sq. yard = 0.836 sq. metres
1 rod = 5.029 metres 1 acre = 0.405 hectares
1 mile = 1.609 kilometres 1 sq. mile = 2.590 sq. kilometres

METRIC IMPERIAL METRIC IMPERIAL

1 centimetre = 0.3937 inches 1 sq. centimetre = 0.155 sq. inches
1 metre = 3.281 feet 1 sq. metre = 10.76 sq. feet
= 1.094 yards 1 sq. metre = 1.196 sq. yards
1 kilometre = 0.6214 miles 1 hectare = 2.471 acres
1 sq. kilometre = 0.386 sq. miles
OTHER 1 hectare = 1 sq. hectometre
1 link = 7.9 inches = 20.1 centimetres
1 chain= 100 links = 66 feet = 4 rods = 20.1 metres OTHER
1 rod = 1 perch = 1 pole = 16.5 feet = 5.0 metres 1 acre = 43,560 sq. feet = 10 sq. chains = .4 hectares
1 mile = 80 chains = 320 rods = 5,280 feet 1 sq. foot = 0.000023 acres
= 1,760 yards = 1.6 kilometres 1 sq. mile = 640 acres = 258.1 hectares

MATHEMATICAL EQUATIONS

l = length w = width h = height

b = base p = perpendicular height

4
w Area of a rectangle or square = l x w p Area of a parallelogram = b x p
(A 4-sided figure with all opposite sides parallel)
l b

c
Area of a triangle = 1/2 (b x h) Area of a trapezoid
h
p = Sum of the 2 parallel sides (b + c) x 1/2 p
(A 4-sided figure with two parallel sides)
b b

Volume (Measuring Cubic Content) = area x h

NOTE In calculating the height it is common practice to include 6 inches for the basement floor.
For houses with gable roofs, include 1/2 the height of the roof.
Mortgage Payment Factors (per $1,000 of Loan Amount)

Mortgage Payment Factors

Weekly Payment Factors
Int. Amortization Period Int. Amortization Period
Rate 5 10 15 20 25 Rate 5 10 15 20 25

1.00 3.943244 2.020779 1.380489 1.060742 .869211 13.00 5.189768 3.385972 2.856979 2.637467 2.533757
1.25 3.967692 2.045628 1.405768 1.086459 .895367 13.25 5.217193 3.417718 2.892446 2.675911 2.574437
1.50 3.992209 2.070645 1.431313 1.112538 .921982 13.50 5.244671 3.449578 2.928059 2.714501 2.615243
1.75 4.016796 2.095828 1.457122 1.138977 .949052 13.75 5.272203 3.481550 2.963814 2.753233 2.656169
2.00 4.041452 2.121178 1.483194 1.165774 .976572 14.00 5.299788 3.513634 2.999707 2.792102 2.697209
2.25 4.066177 2.146693 1.509426 1.192925 1.004538 14.25 5.327426 3.545829 3.035738 2.831104 2.738358
2.50 4.090971 2.172373 1.536117 1.220428 1.032945 14.50 5.355116 3.578132 3.071901 2.870233 2.779610
2.75 4.115832 2.198216 1.562966 1.248279 1.061789 14.75 5.382858 3.610543 3.108195 2.909487 2.820960
3.00 4.140761 2.224222 1.590070 1.276476 1.091063 15.00 5.410651 3.643060 3.144617 2.948860 2.862404
3.25 4.165758 2.250390 1.617428 1.305015 1.120762 15.25 5.438496 3.675683 3.181165 2.988348 2.903935
3.50 4.190821 2.276719 1.645038 1.333891 1.150881 15.50 5.466392 3.708408 3.217834 3.027948 2.945549
3.75 4.215952 2.303208 1.672897 1.363103 1.181413 15.75 5.494338 3.741237 3.254623 3.067655 2.987241
4.00 4.241149 2.329856 1.701005 1.392645 1.212352 16.00 5.522335 3.774166 3.291529 3.107465 3.029007
4.25 4.266412 2.356662 1.729358 1.422515 1.243691 16.25 5.550381 3.807195 3.328548 3.147374 3.070843
4.50 4.291742 2.383625 1.757955 1.452707 1.275424 16.50 5.578477 3.840322 3.365680 3.187379 3.112743
4.75 4.317136 2.410745 1.786793 1.483218 1.307543 16.75 5.606623 3.873546 3.402919 3.227475 3.154704
5.00 4.342596 2.438019 1.815869 1.514043 1.340042 17.00 5.634817 3.906867 3.440265 3.267659 3.196722
5.25 4.368121 2.465448 1.845183 1.545178 1.372912 17.25 5.663059 3.940281 3.477715 3.307927 3.238793
5.50 4.393711 2.493030 1.874731 1.576619 1.406147 17.50 5.691350 3.973789 3.515265 3.348277 3.280912
1
5.75 4.419364 2.520764 1.904511 1.608361 1.439739 17.75 5.719689 4.007389 3.552914 3.388703 3.323077
6.00 4.445082 2.548648 1.934520 1.640399 1.473680 18.00 5.748075 4.041079 3.590658 3.429203 3.365284
6.25 4.470863 2.576683 1.964756 1.672729 1.507963 18.25 5.776508 4.074859 3.628495 3.469774 3.407529
6.50 4.496708 2.604866 1.995217 1.705345 1.542580 18.50 5.804988 4.108726 3.666424 3.510412 3.449809
6.75 4.522615 2.633197 2.025900 1.738244 1.577522 18.75 5.833514 4.142681 3.704440 3.551115 3.492122
7.00 4.548585 2.661674 2.056801 1.771419 1.612781 19.00 5.862087 4.176721 3.742543 3.591878 3.534462
7.25 4.574617 2.690297 2.087920 1.804867 1.648351 19.25 5.890705 4.210845 3.780729 3.632699 3.576829
7.50 4.600712 2.719064 2.119252 1.838581 1.684222 19.50 5.919368 4.245051 3.818996 3.673575 3.619219
7.75 4.626867 2.747974 2.150796 1.872558 1.720386 19.75 5.948077 4.279340 3.857342 3.714503 3.661629
8.00 4.653084 2.777025 2.182547 1.906791 1.756836 20.00 5.976830 4.313709 3.895764 3.755480 3.704057
8.25 4.679362 2.806218 2.214505 1.941276 1.793564 20.25 6.005628 4.348157 3.934260 3.796504 3.746499
8.50 4.705701 2.835550 2.246666 1.976008 1.830560 20.50 6.034469 4.382682 3.972829 3.837572 3.788954
8.75 4.732100 2.865020 2.279026 2.010981 1.867818 20.75 6.063354 4.417285 4.011467 3.878681 3.831420
9.00 4.758559 2.894628 2.311584 2.046190 1.905329 21.00 6.092283 4.451962 4.050172 3.919828 3.873893
9.25 4.785077 2.924371 2.344336 2.081630 1.943086 21.25 6.121254 4.486714 4.088943 3.961011 3.916372
9.50 4.811654 2.954249 2.377280 2.117296 1.981080 21.50 6.150269 4.521539 4.127777 4.002229 3.958855
9.75 4.838291 2.984260 2.410413 2.153183 2.019304 21.75 6.179325 4.556436 4.166672 4.043477 4.001339
10.00 4.864986 3.014404 2.443731 2.189285 2.057750 22.00 6.208423 4.591403 4.205627 4.084755 4.043823
10.25 4.891739 3.044678 2.477232 2.225598 2.096411 22.25 6.237563 4.626439 4.244638 4.126059 4.086305
10.50 4.918550 3.075082 2.510913 2.262115 2.135278 22.50 6.266745 4.661543 4.283704 4.167388 4.128783
10.75 4.945419 3.105614 2.544771 2.298833 2.174345 22.75 6.295967 4.696714 4.322823 4.208739 4.171255
11.00 4.972345 3.136274 2.578803 2.335746 2.213604 23.00 6.325229 4.731951 4.361994 4.250111 4.213720
11.25 4.999327 3.167059 2.613007 2.372849 2.253048 23.25 6.354532 4.767253 4.401213 4.291502 4.256176
11.50 5.026366 3.197969 2.647379 2.410136 2.292670 23.50 6.383875 4.802617 4.440480 4.332908 4.298622
11.75 5.053461 3.229002 2.681916 2.447604 2.332463 23.75 6.413258 4.838044 4.479793 4.374330 4.341056
12.00 5.080613 3.260158 2.716615 2.485246 2.372420 24.00 6.442679 4.873532 4.519149 4.415764 4.383477
12.25 5.107819 3.291433 2.751474 2.523058 2.412534 24.25 6.472140 4.909080 4.558547 4.457210 4.425883
12.50 5.135081 3.322829 2.786490 2.561036 2.452800 24.50 6.501639 4.944687 4.597985 4.498664 4.468273
12.75 5.162397 3.354342 2.821659 2.599174 2.493209 24.75 6.531176 4.980351 4.637461 4.540127 4.510647
Bi-Weekly Payment Factors

Mortgage Payment Factors

Int. Amortization Period Int. Amortization Period
Rate 5 10 15 20 25 Rate 5 10 15 20 25

1.00 7.887244 4.041946 2.761243 2.121687 1.738588 13.00 10.392121 6.780155 5.720886 5.281330 5.073659
1.25 7.936334 4.091746 2.811874 2.173178 1.790949 13.25 10.447273 6.843878 5.792038 5.358432 5.155233
1.50 7.985566 4.141884 2.863038 2.225396 1.844230 13.50 10.502535 6.907832 5.863483 5.435831 5.237064
1.75 8.034939 4.192359 2.914733 2.278337 1.898422 13.75 10.557906 6.972015 5.935216 5.513516 5.319138
2.00 8.084452 4.243168 2.966955 2.331994 1.953518 14.00 10.613385 7.036424 6.007231 5.591480 5.401445
2.25 8.134105 4.294310 3.019701 2.386364 2.009508 14.25 10.668972 7.101057 6.079522 5.669712 5.483974
2.50 8.183896 4.345783 3.072968 2.441440 2.066384 14.50 10.724667 7.165910 6.152083 5.748204 5.566713
2.75 8.233826 4.397587 3.126752 2.497215 2.124135 14.75 10.780467 7.230981 6.224909 5.826947 5.649652
3.00 8.283894 4.449718 3.181051 2.553683 2.182751 15.00 10.836373 7.296268 6.297994 5.905934 5.732780
3.25 8.334099 4.502175 3.235859 2.610839 2.242220 15.25 10.892384 7.361768 6.371333 5.985155 5.816088
3.50 8.384440 4.554957 3.291174 2.668673 2.302531 15.50 10.948500 7.427479 6.444919 6.064601 5.899566
3.75 8.434917 4.608062 3.346991 2.727180 2.363671 15.75 11.004718 7.493397 6.518749 6.144266 5.983205
4.00 8.485530 4.661487 3.403306 2.786352 2.425628 16.00 11.061040 7.559520 6.592815 6.224141 6.066994
4.25 8.536276 4.715231 3.460115 2.846180 2.488389 16.25 11.117464 7.625845 6.667113 6.304219 6.150926
4.50 8.587157 4.769291 3.517414 2.906657 2.551940 16.50 11.173989 7.692371 6.741637 6.384490 6.234992
4.75 8.638172 4.823667 3.575199 2.967775 2.616267 16.75 11.230615 7.759094 6.816382 6.464949 6.319182
5.00 8.689319 4.878355 3.633464 3.029524 2.681357 17.00 11.287342 7.826011 6.891342 6.545587 6.403490
5.25 8.740598 4.933354 3.692206 3.091897 2.747193 17.25 11.344167 7.893121 6.966513 6.626397 6.487908
5.50 8.792008 4.988662 3.751419 3.154884 2.813762 17.50 11.401092 7.960419 7.041889 6.707373 6.572427
5.75 8.843549 5.044277 3.811099 3.218476 2.881049 17.75 11.458114 8.027905 7.117466 6.788507 6.657040
6.00 8.895220 5.100196 3.871241 3.282664 2.949037 18.00 11.515233 8.095575 7.193237 6.869792 6.741741
6.25 8.947021 5.156417 3.931840 3.347438 3.017712 18.25 11.572450 8.163427 7.269188 6.951222 6.826522 2
6.50 8.998950 5.212938 3.992890 3.412790 3.087058 18.50 11.629762 8.231457 7.345344 7.032790 6.911377
6.75 9.051007 5.269757 4.054387 3.478708 3.157059 18.75 11.687169 8.299665 7.421671 7.114490 6.996300
7.00 9.103192 5.326872 4.116326 3.545184 3.227698 19.00 11.744671 8.368046 7.498172 7.196315 7.081284
7.25 9.155504 5.384281 4.178701 3.612207 3.298961 19.25 11.802267 8.436598 7.574844 7.278260 7.166323
7.50 9.207942 5.441980 4.241507 3.679768 3.370830 19.50 11.859956 8.505320 7.651682 7.360318 7.251412
7.75 9.260505 5.499968 4.304738 3.747856 3.443290 19.75 11.917736 8.574208 7.728680 7.442885 7.336545
8.00 9.313193 5.558243 4.368390 3.816461 3.516325 20.00 11.975610 8.643259 7.805835 7.524753 7.421716
8.25 9.366005 5.616802 4.432456 3.885572 3.589918 20.25 12.033574 8.712472 7.883142 7.607118 7.506922
8.50 9.418941 5.675643 4.496930 3.955181 3.664053 20.50 12.091629 8.781844 7.960596 7.689573 7.592156
8.75 9.472000 5.734763 4.561809 4.025276 3.738715 20.75 12.149773 8.851372 8.038193 7.772115 7.677414
9.00 9.525180 5.794160 4.627085 4.095847 3.813887 21.00 12.208066 8.921054 8.115928 7.854738 7.762691
9.25 9.578482 5.853832 4.692753 4.166883 3.889554 21.25 12.266328 8.990888 8.193797 7.937436 7.847984
9.50 9.631905 5.913775 4.758807 4.238375 3.965699 21.50 12.324738 9.060870 8.271797 8.020205 7.933287
9.75 9.685448 5.973989 4.825242 4.310311 4.042308 21.75 12.383234 9.130999 8.349921 8.103041 8.018597
10.00 9.739110 6.034469 4.892052 4.382682 4.119365 22.00 12.441816 9.201271 8.428168 8.185938 8.103910
10.25 9.792891 6.095214 4.959230 4.455478 4.196855 22.25 12.500485 9.271686 8.506532 8.268892 8.189222
10.50 9.846790 6.156222 5.026772 4.528687 4.274762 22.50 12.559238 9.342240 8.585009 8.351899 8.274530
10.75 9.900806 6.217489 5.094672 4.602300 4.353072 22.75 12.618075 9.412930 8.663596 8.434954 8.359830
11.00 9.954939 6.279013 5.162923 4.676307 4.431771 23.00 12.676996 9.483755 8.742288 8.518054 8.445119
11.25 10.009188 6.340792 5.231520 4.750697 4.510843 23.25 12.736000 9.554713 8.821083 8.601194 8.530393
11.50 10.063552 6.402822 5.300456 4.825461 4.590275 23.50 12.795086 9.625800 8.899975 8.684370 8.615651
11.75 10.118031 6.465103 5.369727 4.900588 4.670053 23.75 12.854254 9.697014 8.978961 8.767580 8.700888
12.00 10.172624 6.527630 5.439326 4.976068 4.750162 24.00 12.913502 9.768354 9.058039 8.850818 8.786102
12.25 10.227330 6.590401 5.509247 5.051892 4.830591 24.25 12.972831 9.839816 9.137203 8.934082 8.871290
12.50 10.282149 6.653414 5.579484 5.128050 4.911325 24.50 13.032239 9.911399 9.216451 9.017368 8.956450
12.75 10.337079 6.716667 5.650033 5.204533 4.992352 24.75 13.091726 9.983100 9.295779 9.100672 9.041580
Semi-Monthly Payment Factors

Mortgage Payment Factors

Int. Amortization Period Int. Amortization Period
Rate 5 10 15 20 25 Rate 5 10 15 20 25

1.00 8.544651 4.378845 2.991394 2.298530 1.883501 13.00 11.260405 7.346652 6.198878 5.722597 5.497574
1.25 8.597867 4.432814 3.046258 2.354323 1.940234 13.25 11.320208 7.415727 6.275999 5.806163 5.585986
1.50 8.651237 4.487149 3.101699 2.410903 1.997963 13.50 11.380130 7.485053 6.353438 5.890051 5.674675
1.75 8.704760 4.541849 3.157715 2.468267 2.056681 13.75 11.440171 7.554628 6.431189 5.974250 5.763629
2.00 8.758436 4.596912 3.214304 2.526408 2.116378 14.00 11.500330 7.624448 6.509246 6.058751 5.852836
2.25 8.812263 4.652336 3.271460 2.585320 2.177045 14.25 11.560606 7.694510 6.587603 6.143544 5.942284
2.50 8.866241 4.708119 3.329181 2.644998 2.238672 14.50 11.620998 7.764812 6.666253 6.228619 6.031960
2.75 8.920369 4.764261 3.387463 2.705434 2.301247 14.75 11.681506 7.835351 6.745191 6.313968 6.121853
3.00 8.974647 4.820758 3.446303 2.766622 2.364760 15.00 11.742128 7.906125 6.824410 6.399580 6.211953
3.25 9.029073 4.877609 3.505695 2.828555 2.429197 15.25 11.802865 7.977129 6.903905 6.485446 6.302248
3.50 9.083648 4.934811 3.565636 2.891224 2.494547 15.50 11.863715 8.048362 6.983668 6.571559 6.392728
3.75 9.138371 4.992364 3.626123 2.954621 2.560796 15.75 11.924678 8.119821 7.063695 6.657908 6.483382
4.00 9.193241 5.050265 3.687149 3.018739 2.627931 16.00 11.985753 8.191502 7.143980 6.744485 6.574200
4.25 9.248256 5.108511 3.748711 3.083570 2.695937 16.25 12.046938 8.263403 7.224516 6.831282 6.665174
4.50 9.303418 5.167101 3.810804 3.149104 2.764799 16.50 12.108235 8.335522 7.305297 6.918291 6.756292
4.75 9.358724 5.226032 3.873424 3.215332 2.834503 16.75 12.169640 8.407854 7.386319 7.005502 6.847548
5.00 9.414174 5.285303 3.936565 3.282245 2.905033 17.00 12.231155 8.480398 7.467575 7.092909 6.938931
5.25 9.469767 5.344911 4.000222 3.349834 2.976373 17.25 12.292777 8.553151 7.549060 7.180503 7.030433
5.50 9.525504 5.404854 4.064391 3.418088 3.048508 17.50 12.354507 8.626109 7.630767 7.268277 7.122046
5.75 9.581382 5.465130 4.129066 3.486999 3.121420 17.75 12.416344 8.699270 7.712692 7.356222 7.213761
6.00 9.637402 5.526736 4.194242 3.557556 3.195033 18.00 12.478286 8.772632 7.794828 7.444333 7.305573
6.25 9.693562 5.586669 4.259913 3.626749 3.269511 18.25 12.540334 8.846191 7.877171 7.532601 7.397472 3
6.50 9.749862 5.647929 4.326075 3.697568 3.344656 18.50 12.602486 8.919944 7.959716 7.621019 7.489451
6.75 9.806302 5.709512 4.392721 3.769002 3.420511 18.75 12.664741 8.993889 8.042455 7.709580 7.581505
7.00 9.862880 5.771415 4.459845 3.841040 3.497059 19.00 12.727099 9.068023 8.125386 7.798279 7.673625
7.25 9.919595 5.833637 4.527443 3.913671 3.574282 19.25 12.789560 9.142344 8.208501 7.887107 7.765806
7.50 9.976448 5.896175 4.595508 3.986886 3.652164 19.50 12.852122 9.216848 8.291797 7.976059 7.858042
7.75 10.033437 5.959026 4.664035 4.060672 3.730686 19.75 12.914784 9.291533 8.375268 8.065129 7.950326
8.00 10.090562 6.022188 4.733017 4.135019 3.809831 20.00 12.977546 9.366395 8.458908 8.154309 8.042652
8.25 10.147821 6.085658 4.802449 4.209916 3.889582 20.25 13.040408 9.441434 8.542714 8.243595 8.135016
8.50 10.205215 6.149343 4.872325 4.285351 3.969921 20.50 13.103367 9.516644 8.626680 8.332980 8.227411
8.75 10.262742 6.213513 4.942638 4.361314 4.050831 20.75 13.166425 9.592025 8.710801 8.422459 8.319833
9.00 10.320402 6.277893 5.013383 4.437793 4.132294 21.00 13.229579 9.667573 8.795073 8.512026 8.412277
9.25 10.378194 6.342571 5.084553 4.514778 4.214294 21.25 13.292829 9.743285 8.879491 8.601676 8.504738
9.50 10.436117 6.407544 5.156142 4.592256 4.296814 21.50 13.356175 9.819160 8.964050 8.691403 8.597211
9.75 10.494170 6.472809 5.228143 4.670217 4.379836 21.75 13.419616 9.895193 9.048746 8.781203 8.689692
10.00 10.552353 6.538365 5.300552 4.748649 4.463344 22.00 13.483150 9.971383 9.133574 8.871070 8.782177
10.25 10.610666 6.604207 5.373361 4.827541 4.547322 22.25 13.546777 10.047728 9.218530 8.960999 8.874662
10.50 10.669106 6.670335 5.446564 4.906883 4.631752 22.50 13.610497 10.124223 9.303610 9.050987 8.967142
10.75 10.727674 6.736744 5.520155 4.986663 4.716620 22.75 13.674309 10.200868 9.388808 9.141027 9.059615
11.00 10.786369 6.803432 5.594127 5.066869 4.801910 23.00 13.738212 10.277659 9.474122 9.231116 9.152076
11.25 10.845190 6.870397 5.668474 5.147492 4.887604 23.25 13.802205 10.354593 9.559547 9.321250 9.244522
11.50 10.904137 6.937635 5.743191 5.228520 4.973690 23.50 13.866287 10.431669 9.645078 9.411423 9.336950
11.75 10.963208 7.005144 5.818269 5.309942 5.060150 23.75 13.930458 10.508883 9.730712 9.501633 9.429357
12.00 11.022403 7.072921 5.893704 5.391748 5.146971 24.00 13.994717 10.586234 9.816446 9.591875 9.521740
12.25 11.081721 7.140963 5.969489 5.473927 5.234138 24.25 14.059064 10.663718 9.902273 9.682145 9.614095
12.50 11.141161 7.209267 6.045617 5.556468 5.321637 24.50 14.123497 10.741333 9.988193 9.772439 9.706421
12.75 11.200723 7.277831 6.122082 5.639362 5.409453 24.75 14.188016 10.819077 10.074199 9.862755 9.798714
Monthly Payment Factors

Mortgage Payment Factors

Int. Amortization Period Int. Amortization Period
Rate 5 10 15 20 25 Rate 5 10 15 20 25

1.00 17.092853 8.759511 5.984032 4.598017 3.767784 13.00 22.580060 14.731961 12.430373 11.475304 11.024075
1.25 17.200199 8.867930 6.094097 4.709868 3.881475 13.25 22.701092 14.871203 12.585637 11.643447 11.201912
1.50 17.307863 8.977093 6.205330 4.823308 3.997171 13.50 22.822375 15.010961 12.741554 11.812250 11.380323
1.75 17.415843 9.086996 6.317724 4.938326 4.114856 13.75 22.943906 15.151230 12.898111 11.981694 11.559282
2.00 17.524137 9.197636 6.431274 5.054912 4.234512 14.00 23.065685 15.292005 13.055297 12.151759 11.738765
2.25 17.632745 9.309011 6.545972 5.173052 4.356121 14.25 23.187708 15.433279 13.213098 12.322426 11.918747
2.50 17.741664 9.421115 6.661811 5.292736 4.479662 14.50 23.309976 15.575047 13.371503 12.493674 12.099205
2.75 17.850895 9.533946 6.778784 5.413950 4.605115 14.75 23.432486 15.717303 13.530498 12.665487 12.280116
3.00 17.960435 9.647500 6.896884 5.536680 4.732455 15.00 23.555237 15.860041 13.690073 12.837844 12.461457
3.25 18.070284 9.761774 7.016102 5.660911 4.861660 15.25 23.678228 16.003257 13.850215 13.010728 12.643207
3.50 18.180439 9.876762 7.136432 5.786630 4.992703 15.50 23.801457 16.146944 14.010912 13.184121 12.825344
3.75 18.290900 9.992462 7.257863 5.913820 5.125560 15.75 23.924922 16.291096 14.171253 13.358006 13.007848
4.00 18.401665 10.108870 7.380387 6.042465 5.260202 16.00 24.048622 16.435709 14.333924 13.532364 13.190699
4.25 18.512732 10.225981 7.503996 6.172548 5.396602 16.25 24.172556 16.580776 14.496215 13.707180 13.373878
4.50 18.624102 10.343792 7.628681 6.304052 5.534730 16.50 24.296722 16.726291 14.659014 13.882435 13.557365
4.75 18.735771 10.462297 7.754431 6.436959 5.674556 16.75 24.421119 16.872250 14.822310 14.058115 13.741144
5.00 18.847739 10.581483 7.881238 6.571250 5.816050 17.00 24.545744 17.018645 14.986090 14.234202 13.925195
5.25 18.960005 10.701376 8.009091 6.706908 5.959180 17.25 24.670597 17.165473 15.150344 14.410682 14.109502
5.50 19.072566 10.821941 8.137981 6.843913 6.103915 17.50 24.795677 17.312727 15.315061 14.587538 14.294049
5.75 19.185423 10.943184 8.267897 6.982245 6.250221 17.75 24.920981 17.460401 15.480229 14.764755 14.478820
6.00 19.298572 11.065099 8.398828 7.121884 6.398066 18.00 25.046508 17.608491 15.645837 14.942319 14.663799
6.25 19.412013 11.187683 8.530764 7.262811 6.547416 18.25 25.172256 17.756990 15.811874 15.120216 14.848971 4
6.50 19.525745 11.310931 8.663695 7.405004 6.698238 18.50 25.298225 17.905892 15.978330 15.298430 15.034322
6.75 19.639766 11.434838 8.797609 7.548443 6.850496 18.75 25.424413 18.055193 16.145194 15.476949 15.219837
7.00 19.754075 11.559399 8.932494 7.693106 7.004158 19.00 25.550817 18.204887 16.312456 15.655759 15.405505
7.25 19.868670 11.684610 9.068341 7.838973 7.159187 19.25 25.677437 18.354968 16.480104 15.834845 15.591311
7.50 19.983549 11.810465 9.205137 7.986021 7.315549 19.50 25.804272 18.505431 16.648129 16.014197 15.777243
7.75 20.098712 11.936960 9.342870 8.134229 7.473210 19.75 25.931319 18.656270 16.816521 16.193800 15.963289
8.00 20.214157 12.064090 9.481529 8.283575 7.632135 20.00 26.058577 18.807480 16.985269 16.373642 16.149438
8.25 20.329883 12.191850 9.621103 8.434037 7.792288 20.25 26.186046 18.959055 17.154364 16.553712 16.335678
8.50 20.445888 12.320234 9.761579 8.585592 7.953635 20.50 26.313722 19.110990 17.323795 16.733998 16.521998
8.75 20.562170 12.449238 9.902945 8.738219 8.116142 20.75 26.441605 19.263280 17.493554 16.914489 16.708389
9.00 20.678729 12.578856 10.045189 8.891895 8.279774 21.00 26.569693 19.415920 17.663630 17.095172 16.894840
9.25 20.795563 12.709083 10.188298 9.046598 8.444497 21.25 26.697985 19.568903 17.834015 17.276038 17.081342
9.50 20.912670 12.839914 10.332261 9.202305 8.610276 21.50 26.826480 19.722225 18.004698 17.457076 17.267886
9.75 21.030049 12.971344 10.477066 9.358995 8.777079 21.75 26.955175 19.875880 18.175672 17.638275 17.454462
10.00 21.147698 13.103367 10.622699 9.516644 8.944872 22.00 27.084070 20.029863 18.346926 17.819625 17.641063
10.25 21.262617 13.235979 10.769149 9.675231 9.113622 22.25 27.213162 20.184169 18.518453 18.001117 17.827679
10.50 21.383803 13.369173 10.916402 9.834734 9.283297 22.50 27.342451 20.338793 18.690242 18.182742 18.014304
10.75 21.502255 13.502944 11.064446 9.995129 9.453864 22.75 27.471935 20.493729 18.862286 18.364489 12.200930
11.00 21.620972 13.637287 11.213269 10.156396 9.625292 23.00 27.601613 20.648972 19.034577 18.546351 18.387550
11.25 21.739952 13.772197 11.362858 10.318512 9.797549 23.25 27.731482 20.804518 19.207105 18.728317 18.574156
11.50 21.859194 13.907667 11.513201 10.481456 9.970606 23.50 27.861542 20.960361 19.379864 18.910381 18.760742
11.75 21.978696 14.043693 11.664285 10.645206 10.144431 23.75 27.991791 21.116496 19.552844 19.092533 18.947302
12.00 22.098457 14.180269 11.816096 10.809741 10.318996 24.00 28.122228 21.272918 19.726037 19.274765 19.133830
12.25 22.218476 14.317389 11.968624 10.975039 10.494270 24.25 28.252851 21.429622 19.899437 19.457070 19.320319
12.50 22.338750 14.455048 12.121854 11.141079 10.670227 24.50 28.383658 21.586603 20.073035 19.639441 19.506765
12.75 22.459278 14.593241 12.275775 11.307841 10.846838 24.75 28.514649 21.743856 20.246823 19.821869 19.693162