Question

Adrian and Keena are purchasing a home worth $458,900. They made a down payment of 18% and finance the remainder. If they must pay 0.4% for intangible taxes what is the total amount of the intangible tax? (show work)

A= $3304.08
B= $1505.19
C= $826.02

Answer 1

Amount financed
458,900−458,900×0.18
=376,298
intangible tax
376,298×0.004
=1,505.19