Sue is selling her house for $265,000. Closing is set for June 19, and Sue owns the day of closing. She has a loan balance of $78,000 at a 4.2% rate, and she's current on her payments. She prepaid the property taxes ($1,350) and insurance ($925). Using a calendar-year proration method for calculations, how will these amounts appear on sues closing statement?

Answer rating: 100% (QA)

To determine how the amounts of prepaid property taxes and insurance will appear on Sues closing sta... View the full answer