Certain Closing Costs Will Be Prorated to Account for the Period

question 28

Multiple Choice

Certain closing costs will be prorated to account for the period of time during which the seller occupied the house. If a transaction is scheduled to close on May 17 (136 days into a 365-day year) , calculate the amount that the buyer will be credited if the particular closing cost in question is estimated to be $1,000 for the entire year.

• A) $182.19
• B) $372.60
• C) $624.66
• D) $1000

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Definitions:

Introverts

People who prefer solitary activities and environments where they can focus on their internal thoughts rather than external stimulation.

Myers-Briggs Type Indicator

A psychological assessment tool designed to measure individual personality types based on preferences in perception and decision-making.

Thinking

The process of considering or reasoning about something, often relevant in the context of planning, problem-solving, and decision-making in project management.

DISC Acronym

DISC stands for Dominance, Influence, Steadiness, and Conscientiousness, which are the four personality traits it assesses.