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How much does the buyer owe the seller for a 2-year $8,760 insurance policy that runs out August 12 if prorations are carried to the day of closing, April 12 of the same year? Assume a calendar year with no leap-years involved.

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Real estate math commonly covers commissions, property taxes, area/acreage, and loan calculations, frequently using a T-chart method (Part/Total Rate).


1. How much does the buyer owe the seller for a 2-year $8,760 insurance policy that runs out August 12 if prorations are carried to the day of closing, April 12 of the same year? Assume a calendar year with no leap-years involved.





 
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