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6 April, 08:26

A house is sold on June 15. The annual taxes in the amount of $850 for the year have not been paid. What does the seller owe the buyer at closing? a) $315.21 b) $381.92 c) $384.25 d) $475.18

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  1. 6 April, 11:02
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    Option (c) $384.25

    Explanation:

    Data provided in the question:

    Date on which house is sold = June 15

    Annual taxes in the amount = $850

    Now,

    Tax per day = [ Annual taxes ] : Total number of days in a year ]

    = $850 : 365

    = $2.3288 per day

    Therefore,

    The amount seller owe the buyer

    = Tax per day * Number of days seller owned house

    = $2.3288 * 165

    = $384.25

    Hence,

    Option (c) $384.25
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Home » Business » A house is sold on June 15. The annual taxes in the amount of $850 for the year have not been paid. What does the seller owe the buyer at closing? a) $315.21 b) $381.92 c) $384.25 d) $475.18
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