Real Estate Math
A Vermont property sold for $265,000. The buyer paid a PTT. What was the total PTT owed?
A$1,325
B$2,812
C$2,562✓ Correct
D$3,062
Explanation
PTT: 0.5% x $100,000 = $500; 1.25% x $165,000 = $2,062.50;25% x $165,000) = $500 + $2,062.50 = $2,562.50.005 x $100,000 = $500; 0.0125 x $165,000 = $2,062.50; Total = $2,562.50.
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