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The table on the right shows closing costs for a purchase of a $224,000 house requiring a 20% down payment. Title insurance premium Find the total closing costs. Document recording fee Loan fee (2 points) Appraisal fee Prorated property taxes Prorated insurance premium What are the total closing costs?

The table on the right shows closing costs for a purchase of a $224,000 house requiring a 20% down payment. Title insurance premium Find the total closing costs. Document recording fee Loan fee (2 points) Appraisal fee Prorated property taxes Prorated insurance premium What are the total closing costs?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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The table below presents the closing costs for purchasing a house valued at $224,000 with a 20% down payment. Your task is to calculate the total closing costs associated with this transaction. | Description | Cost | |----------------------------------|----------| | Title insurance premium | $225 | | Document recording fee | $30 | | Loan fee (2 points) | - | | Appraisal fee | $225 | | Prorated property taxes | $691 | | Prorated insurance premium | $300 | **Question**: What are the total closing costs? **Answer**: Enter your result in the provided box. This section is useful for students learning about real estate transactions and helps provide practical understanding through real-world examples.
Transcribed Image Text:The table below presents the closing costs for purchasing a house valued at $224,000 with a 20% down payment. Your task is to calculate the total closing costs associated with this transaction. | Description | Cost | |----------------------------------|----------| | Title insurance premium | $225 | | Document recording fee | $30 | | Loan fee (2 points) | - | | Appraisal fee | $225 | | Prorated property taxes | $691 | | Prorated insurance premium | $300 | **Question**: What are the total closing costs? **Answer**: Enter your result in the provided box. This section is useful for students learning about real estate transactions and helps provide practical understanding through real-world examples.
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