Real Estate Math
Annual property taxes on a home are $3,600. The closing occurs on September 30. Using a 360-day banker's year with 30-day months, how much of the taxes is the seller responsible for (seller pays through day of closing)?
A$2,700✓ Correct
B$3,000
C$2,550
D$3,300
Explanation
January through September = 9 months. Daily tax rate = $3,600 ÷ 360 = $10/day.
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