Real Estate Math
The Rhode Island Realty Transfer Tax on a $750,000 sale is:
A$1,725
B$3,450✓ Correct
C$7,500
D$17,250
Explanation
$750,000 / $500 = 1,500 units x $2.30 = $3,450. Using the values given ($750,000), apply the appropriate formula.. The correct answer is $3,450.. This is a common calculation on the Rhode Island real estate exam.
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