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Gekata [30.6K]
3 years ago
10

Sally is buying a home and the closing date is set for april 20th. the annual property taxes are $1,234.00 and have not been pai

d yet. using actual days, how much will the buyer be credited and the seller be debited
Business
1 answer:
Tpy6a [65]3 years ago
4 0

Answer:

Sally (the buyer) should pay $865.58 and the seller should pay $368.42.

Explanation:

First we must determine property taxes per day = $1,234 / 365 = $3.38 per day

The seller is responsible for the property taxes until the closing date = 31 days for January + 28 days for February + 31 days for March + 19 days for April = 109 days x $3.38 per day = $368.42

Sally would be responsible for the remaining taxes = $1,234 - $368.42 = $865.58

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Explanation:

Giving the following information:

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Answer:

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