Math Formula Cheat Sheet
Every formula on the Florida real estate exam on one printable page. Click the button below to save as PDF or print.
Florida Real Estate Exam
Math Formula Cheat Sheet
18 formulas across 7 categories
Commission & Splits
Commission Amount
Sale Price × Commission Rate = Commission
$250,000 × 6% = $15,000
Agent Split
Total Commission × Agent Split % = Agent Share
$15,000 × 60% = $9,000
Finding Sale Price from Commission
Commission ÷ Commission Rate = Sale Price
$15,000 ÷ 6% = $250,000
Proration
Daily Proration
Annual Amount ÷ 365 = Daily Rate
$3,650 ÷ 365 = $10/day
Seller's Share
Daily Rate × Days Seller Owned = Seller's Proration
$10/day × 180 days = $1,800
Cap Rate & GRM
Capitalization Rate
NOI ÷ Sale Price = Cap Rate
$50,000 ÷ $500,000 = 10%
Property Value (Income Approach)
NOI ÷ Cap Rate = Property Value
$50,000 ÷ 10% = $500,000
Gross Rent Multiplier
Sale Price ÷ Gross Annual Rent = GRM
$500,000 ÷ $60,000 = 8.33
Documentary Stamp Tax
Deed Stamps
Sale Price ÷ $100 × $0.70 = Deed Stamp Tax
$250,000 ÷ $100 × $0.70 = $1,750
Mortgage Stamps
Loan Amount ÷ $100 × $0.35 = Mortgage Stamp Tax
$200,000 ÷ $100 × $0.35 = $700
Intangible Tax
Loan Amount × $0.002 = Intangible Tax
$200,000 × $0.002 = $400
Area & Volume
Square Footage
Length × Width = Area (sq ft)
50 ft × 100 ft = 5,000 sq ft
Acres Conversion
Square Feet ÷ 43,560 = Acres
87,120 sq ft ÷ 43,560 = 2 acres
Price per Square Foot
Price ÷ Square Footage = Price per Sq Ft
$500,000 ÷ 2,500 sq ft = $200/sq ft
Loan-to-Value (LTV)
LTV Ratio
Loan Amount ÷ Appraised Value = LTV
$180,000 ÷ $200,000 = 90% LTV
Down Payment
Appraised Value - Loan Amount = Down Payment
$200,000 - $180,000 = $20,000
Property Tax & Millage
Taxable Value
Assessed Value - Exemptions = Taxable Value
$310,000 - $50,000 = $260,000
Property Tax
Taxable Value × Millage Rate ÷ 1,000
$260,000 × 20 ÷ 1,000 = $5,200
Key Numbers & Rates
Common Traps to Avoid
- !Subtract exemption BEFORE applying millage rate
- !NOI = Income - Expenses (does NOT subtract mortgage payments)
- !LTV % + Down Payment % = 100%
- !Round UP to nearest $100 for doc stamp calculations
- !GRM uses gross rent; cap rate uses NOI (net)
- !Appraised value or sale price, whichever is LOWER, for LTV
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