Question

Hayden and Brianna received a mortgage in the amount of $164,320 for a condominium that cost $198,450. The documentary stamp tax fee for mortgages in their state is $0.35 per $100 or portion thereof. How much did Hayden and Brianna pay for the documentary stamp tax? (2 points)

Answer 1

the answer is 575.12

Explanation:

since the mortgage amount is $164320, you divide that by 100 because it is $100 per $.35.

lastly, you multiply it by .35

you should have something like this: 164320/100x0.35

which equals 575.12.