Real Estate Math
A Vermont property is subject to a special assessment of $12,000, payable over 10 years. What is the annual special assessment payment?
A$1,000
B$1,200✓ Correct
C$1,500
D$2,000
Explanation
Annual payment = $12,000 / 10 years = $1,200 per year. Using the values given ($12,000,), apply the appropriate formula.. The correct answer is $1,200.. This is a common calculation on the Vermont real estate exam.
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