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jamielcash

15

Question 48, sample test #2 page p. 502 in Modern Real Estate Book

I am stumped the following question:

A real estate transaction has a closing date of November 15. The seller, who is responsible for costs up to and including the date of settlement, has already paid the property taxes of $11,160 for the calendar year. On the closing statement, the buyer will be A. debited $1,395. B. debited $9,765. C. credited $1,395 D. credited $9,765.

The answer is C.

My answer was $1,406 (46 days x $30.58)