Term
| Abbreviations on Real Estate-Specific Calculators |
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Definition
N=Number of Payments/Interest Compounding Periods (sometimes listed as TERM, which requires years of term be entered instead of months)
I=interest rate per period
PV=present value of money/loan (sometimes indicated as LOAN)
PMT=amount of payment
FV=future value of money |
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Term
| Percentages (%) On the Calculator |
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Definition
Example of calculating 7% commission:
Enter 100000
Press X key
Enter 0.07
Press % key
If screen displays 0.07 still, press = key
Answer should show as 7000 |
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Term
| Linear Measurement (line measurement) |
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Definition
Abbreviation for feet is ' (example: twelve feet is written as 12')
Abbreviation for inches is " (example: twelve inches is written as 12")
Other common linear measurements in real estate are yards and miles. |
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Term
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Definition
Number of units on the frontage of a lot
If two dimensions are given for a tract of land and they are not labeled, the first dimension is the frontage.
Also known as the width. |
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Term
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Definition
| Usually how much of the property borders the street, but can also be water frontage if the property borders a lake, river, stream, ocean, etc. |
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Term
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Definition
Inches to Feet: Divide by 12 (example: 144 inches / 12 = 12 feet)
Feet to Inches: Multiply by 12 (example: 12 feet * 12 inches per foot = 144 inches)
Feet to Yards: Divide by 3 (example: 36 feet / 3 feet per yard = 12 yards)
Yards to Feet: Multiply by 3 (example: 3 yards * 3 feet per yard = 9 feet)
Inches to Yards: Divide by 36 (example: 144 inches / 36 = 4 yards) NOTE: You can also convert inches to feet (144/12=12) and then convert feet to yards (12/3=4)
Yards to Inches: Multiply by 36 (example: 4 yards x 36 inches per yard = 144 inches) NOTE: You can also do this by first converting yards to feet (4 yards * 3 feet per yard = 12 feet) and then feet to inches (12 feet * 12 inches per foot = 144 inches)
Feet to Miles: Divide by 5280 (example: 10560 feet / 5280 feet per mile = 2 miles)
Miles to Feet: Multiply by 5280 (example: 2 miles * 5280 feet per mile = 10560 feet)
Feet to Rods: Divide by 16.5 (example: 82.5 feet / 16.5 feet per rod = 5 rods)
Rods to Feet: Multiply by 16.5 (example: 5 rods * 16.5 feet per rod = 82.5 feet)
Rods to Miles: Divide by 320 (example: 640 rods / 320 rods per mile = 2 miles)
Miles to Rods: Divide by 320 (example: 2 miles * 320 rods per mile = 640 rods) |
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