Alana is closing on a house on July 15. The buyer owns the property on the day of the closing. The selling price of the home is $250,400. Alana was accepted for a 15-year fixed-rate mortgage for $232,100 at 5.75% interest. The seller has paid $3,197.66 in property taxes for the coming year. How much will Alana owe in prorated taxes and interest?

$1,708.20

$2,110.72

$621.52

$1,489.20

Question

Alana is closing on a house on July 15. The buyer owns the property on the day of the closing. The selling price of the home is $250,400. Alana was accepted for a 15-year fixed-rate mortgage for $232,100 at 5.75% interest. The seller has paid $3,197.66 in property taxes for the coming year. How much will Alana owe in prorated taxes and interest?

 $1,708.20

 $2,110.72

 $621.52

 $1,489.20