Finance (alternative)
A Maryland homebuyer's annual property taxes are $3,600. Their lender requires them to be escrowed. Monthly escrow for taxes is:
A$300✓ Correct
B$360
C$400
D$450
Explanation
Monthly escrow = Annual taxes ÷ 12 = $3,600 ÷ 12 = $300 per month. Using the values given ($3,600), apply the appropriate formula..
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