Real Estate Math
A South Carolina property sells for $285,000. The deed recording fee is $1.85 per $500 or fraction thereof of value. What is the deed recording fee?
A$1,054.50✓ Correct
B$1,053.75
C$1,056.35
D$1,050.00
Explanation
$285,000 / $500 = 570 units. 570 × $1.85 = $1,054.50. Since $285,000 divides evenly by $500 with no remainder, no additional fraction applies.
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