Real Estate Math
A title insurance premium of $750 is paid at closing for a $300,000 property. What is the rate per $1,000 of coverage?
A$1.50
B$2.00
C$2.50✓ Correct
D$2.75
Explanation
Rate per $1,000 = Premium ÷ (Coverage ÷ 1,000) = $750 ÷ ($300,000 ÷ 1,000) = $750 ÷ 300 = $2.50 per $1,000.
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