Real Estate Math
A buyer obtains a $300,000 mortgage in Florida. The documentary stamp tax on the note is $0.35 per $100. What are the doc stamps on the mortgage note?
A$1,050.00✓ Correct
B$2,100.00
C$1,500.00
D$750.00
Explanation
Doc stamps on note = $300,000 ÷ 100 × $0.35 = 3,000 × $0.
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