Rosie Malone sold her house to D.M. Band. The contract was signed on June 1, 2023, and closing was set for June 25, 2023. Rosie had prepaid her three-year pest and termite protection policy in the amount of $1,825 on April 1, 2022, and D.M. agreed to assume it at closing. Water and sewer are paid the first of each month for the previous month. They are estimated to total $200 for June. D.M. also agrees to assume Rosie's mortgage, which will have a balance of $85,385 on date of closing. Monthly payments are $569.23, with interest for June of $204.62, payable on the first of the month for the previous month. The seller is responsible for the day of closing. Required: How would the pest and termite protection premium be prorated? Note: Round intermediate calculations to 3 decimal places and your final answers to 2 decimal places. Seller's portion of pest and termite protection Buyer's portion of pest and termite protection $ Amounts 38.40 X 9.60 X
Rosie Malone sold her house to D.M. Band. The contract was signed on June 1, 2023, and closing was set for June 25, 2023. Rosie had prepaid her three-year pest and termite protection policy in the amount of $1,825 on April 1, 2022, and D.M. agreed to assume it at closing. Water and sewer are paid the first of each month for the previous month. They are estimated to total $200 for June. D.M. also agrees to assume Rosie's mortgage, which will have a balance of $85,385 on date of closing. Monthly payments are $569.23, with interest for June of $204.62, payable on the first of the month for the previous month. The seller is responsible for the day of closing. Required: How would the pest and termite protection premium be prorated? Note: Round intermediate calculations to 3 decimal places and your final answers to 2 decimal places. Seller's portion of pest and termite protection Buyer's portion of pest and termite protection $ Amounts 38.40 X 9.60 X
Chapter3: Income Sources
Section: Chapter Questions
Problem 41P
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