Alice is closing on a house on August 13. The buyer owns the property on the day of the closing. The selling price of the home is $350,700. Alice was accepted for a 20-year fixed-rate mortgage for $324,900 at 5.25% interest. The seller has paid $4,478.51 in property taxes for the coming year. How much will Alice owe in prorated taxes and interest?

I do not want the answer I need to know how to do this so I can take my final exam. Please (:

Question

Alice is closing on a house on August 13. The buyer owns the property on the day of the closing. The selling price of the home is $350,700. Alice was accepted for a 20-year fixed-rate mortgage for $324,900 at 5.25% interest. The seller has paid $4,478.51 in property taxes for the coming year. How much will Alice owe in prorated taxes and interest?

I do not want the answer I need to know how to do this so I can take my final exam. Please (:

undeadknight26 · Answer

@AccessDenied @shrutipande9 @Destinymasha @gabylovesu @Hero Please help?