David Saks: November 2008

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Math Class : Lesson 133

                                                      math

A fire insurance policy was taken out by a seller for three years dated June 1, 2005.

The premium for three years was $3600.

The property was sold on January 1, 2007.

When the premium is prorated how much would be charged to the buyer ?

Take your time. The answer is below the wildlife photo.

 wildlife

A. $1700

June 1, 2005 to June 1, 2008 equals 36 months.

June 1, 2005 to January 1, 2007 equals 19 months used on the policy.

Subtract 19 from 36 months and the buyer has 17 months remaining on the policy.

Divide 36 in 3600 and the polocy is 100 a month.

                                Multiply the remaining months times 100 and we get $1700.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • November 24 2008 03:19AM
Real Estate Math Class : Lesson 133
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