Real Estate Math
A property sells for $385,000. The county transfer recording fee is $10 per $1,000 of value. What is the recording fee?
A$3,850✓ Correct
B$38.50
C$385
D$1,925
Explanation
Recording fee = ($385,000 ÷ $1,000) × $10 = 385 × $10 = $3,850. Using the values given ($385,000, $10), apply the appropriate formula..
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