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Allison is closing on a house on september 17. The buyer owns the property on the day of the closing. The selling price of the gone is $200,500. Allison was accepted for a 25-year fixed-rate mortgage for $185,000 at 6.25% interest. The seller has paid $2,560.43 in property taxes for the coming year. How much will Allison owe in prorated taxes and interest.

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Answer:

197,500

Explanation:

200500*25-184000/6.25-2560.43=4980499.57 Which rounds to 197,500.

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