Real Estate Math
A property's annual taxes are $6,000. If taxes are prorated at closing and the seller has paid the full year, and closing is on September 1, how much does the buyer owe the seller?
A$1,500
B$2,000✓ Correct
C$2,500
D$3,000
Explanation
The buyer owes the seller for the remaining 4 months of the year (September 1 through December 31). $6,000 / 12 = $500/month x 4 = $2,000.
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