Mr. jackson purchases a home for $90,000. he paid $4,000 as an earnest money deposit, and is obtaining an 80% loan. costs include $250 for title insurance, recording fees of $60, and a tax proration fee of $430. mr. jackson will need to bring a check to closing in the amount of:

Mr. Jackson will need to bring a check to closing in the amount of $14,470

Explanation:

The computation of the closing amount is shown below:

= Down payment + title insurance + recording fees + tax proportion fee - = earned money deposit

where,

Down payment = Purchase cost × remaining percentage (100% - 80%)

                         = $90,000 × 20%

                         = $18,000

The other values remain same

So, the value would equal to

= $18,000 + $250 + $60 + $430 - $4,000

= $14,470

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

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