Hawaii Pre-Licensing National Practice Exam

To determine the seller's total payment, first calculate the total costs associated with the transaction. This includes the title insurance, title search, paper preparation, and miscellaneous fees. Adding these amounts together: - Title insurance: $174.90 - Title search: $75 - Paper preparation: $15 - Miscellaneous fees: $6.10 Total costs = $174.90 + $75 + $15 + $6.10 = $271.00. Since the seller is responsible for 60% of the total costs, we multiply the total by 0.60: Seller's payment = 0.60 × $271.00 = $162.60. Next, to find out how much more the seller is paying compared to what the buyer covers, we need to calculate the buyer's payment, which is the remaining 40% of the total costs: Buyer's payment = 0.40 × $271.00 = $108.40. Now, we find the difference between the seller's payment and the buyer's payment: Difference = Seller's payment - Buyer's payment = $162.60 - $108.40 = $54.20. This indicates that the seller is indeed paying approximately