Answer:
The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34
Explanation:
<em>Step 1: Determine HOA per day</em>
Use the expression below to determine HOA per day;
T=H×N
where;
T=total HOA dues per year
H=HOA per day
N=number of days in a year
In our case;
T=$660
H=unknown
N=360 days
Replacing;
660=H×360
360 H=660
H=660/360
H=$1.83 per day
<em>Step 2: Determine amount of HOA that is due back</em>
Using the same expression;
T=H×N
but;
T=unknown
H=$1.83 per day
N=(June, 15 days)+(July, 30)+(Aug, 31)+(Sep. 30)+(Oct 31)+(Nov 30)+(Dec 31)
N=(15+30+31+30+31+30+31)=198 days
Replacing;
T=(1.83×198)=$362.34
The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34
