Real Estate Math
Closing is on September 15. Annual property taxes of $4,800 are paid in arrears. Using a 365-day year, how many days does the seller owe? (Jan 1–Sep 15 = 257 days)
A$3,187
B$3,376✓ Correct
C$3,475
D$3,584
Explanation
Daily tax rate = $4,800 ÷ 365 = $13.15/day.
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