Real Estate Math
An escrow closing is set for September 15. Property taxes of $3,650 per year are paid in arrears. Using a 365-day year, how much does the seller owe in prorated taxes for January 1 through September 14?
A$2,512.33
B$2,420.00
C$2,500.00
D$2,547.40✓ Correct
Explanation
Days from Jan 1 to Sep 14 = 31+28+31+30+31+30+31+31+14 = 257 days. Daily rate = $3,650 ÷ 365 = $10.
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