Since hazard insurance premiums are paid up-front,the buyer will have to reimburse (credit)the seller a portion of the premium at the closing.Suppose that the insurance policy's coverage began on December 15^th of the prior year and the property transaction is set to close on March 16^th of a 365-day year.The premium paid originally by the seller was $250.If the coverage will expire as of the end of day December 14^th in the current year,what is the dollar amount that the buyer must credit the seller?

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The Answer of Since hazard insurance premiums are paid up-front,the buyer will have to reimburse (credit)the seller a portion of the premium at the closing.Suppose that the insurance policy's coverage began on December 15^th of the prior year and the property transaction is set to close on March 16^th of a 365-day year.The premium paid originally by the seller was $250.If the coverage will expire as of the end of day December 14^th in the current year,what is the dollar amount that the buyer must credit the seller?

Since Hazard Insurance Premiums Are Paid Up-Front,the Buyer Will Have