Real Estate Math
Using a 360-day banker's year, how many days is the proration period if closing occurs on March 15? (Seller pays through day of closing.)
A74 days
B75 days✓ Correct
C73 days
D70 days
Explanation
January = 30 days, February = 30 days, March 1–15 = 15 days. Total = 30 + 30 + 15 = 75 days.
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