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irina [24]
3 years ago
5

annual property taxes are $1,776. the previous year's taxes are paid. if the closing is one May 1, what is the seller's portion

on the settlement?
Business
1 answer:
never [62]3 years ago
6 0

Answer:

The correct answer is ($596.93 with a year of<u> 360 days</u>) or ($588.75 with a year of <u>365 days</u>)

Explanation:

First step: Divide the annual property taxes into the number of days in a year.

$1,776 ÷ 360 days = 4.9333 (price per day, With a year of<u> 360 </u>days)

$1,776 ÷ 365 days = 4.8657 (price per day, With a year of <u>365</u> days)

Second step: Multiply the price per day by the number of days of the closing, for this case May 1

Jan= 31 days

Feb= 28 days

March= 31 days

April= 30 days

May= 30 days (but the closing is on 1 May, for this month, count just 1 day)

= 31 (Jan) + 28 (Feb) + 31 (March) + 30 (April) + 1 (May) = 121 days until May 1

Third step: Price per day x number of days until closing

$4.9333 x 121 days = $ 596.93

$4.8657 x 121 days = $ 588.75

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_____ form a part of the microenvironment that influences retail management decisions. competitors technologies politics
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2 years ago
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Lady_Fox [76]

Answer:

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3 0
3 years ago
Read 2 more answers
An oil and gas producing company owns 42,000 acres of land in a southeastern state. It operates 630 wells which produce 18,000 b
valkas [14]

Answer:

The bid amount should be $13,200,264.

Explanation:

An oil and gas producing company owns 42,000 acres of land in a southeastern state.

It operates 630 wells which produce 18,000 barrels of oil per year and 1.7 million cubic feet of natural gas per year.

The revenue from the oil is ​$1,800,000 per year and for natural gas the annual revenue is ​$581,000 per year.

Total Annual Revenue

= Revenue from oil + Revenue from gas

= $1,800,000 + $581,000

= $2,381,000

The bid amount should be the present worth of total annual revenue.

Present Worth of total annual revenue

= Revenue \times\ \frac{( 1 + i )^{n} -1 }{i (1 + i)^{n} }

= $2,381,000\ \times\ \frac{( 1 + 0.11 )^{9} -1 }{0.11 × (1 + 0.11)^{9} }

= $2,381,000\ \times\ \frac{( 1.11 )^{9} -1 }{0.11 × (1.11)^{9} }

= $2,381,000\ \times\ \frac{2.5580 - 1 }{0.11 × 2.5580 }

= $2,381,000\ \times\ \frac{1.5580 }{0.281}

= $2,381,000\ \times\ 5.544

= $13,200,264

7 0
3 years ago
The following data relate to a company that produces and sells a travel guide that is updated monthly: Each book sells for $20.0
Arturiano [62]

Answer:

10.30

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20

8000

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10000

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costs:Printing and binding...............................$3.20 per copyBookstore discounts................................$4.00 per copySalespersons’ commissions....................$0.50 per copyAuthor’s royalties...................................$2.00

7 0
3 years ago
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