A person closing on an income property has a daily interest per diem of $56.00. How much per diem interest must they bring to closing if the closing date is June 10th?

To determine the amount of per diem interest that must be brought to closing, you need to calculate the number of days from the closing date until the end of the month and multiply that by the daily interest amount. In this instance, the closing date is June 10th.

June has a total of 30 days. Therefore, from June 10th through June 30th, there are 20 days remaining in the month (30 - 10 = 20).

Now, you multiply the daily interest per diem of $56.00 by the 20 days:

$56.00 per day × 20 days = $1,120.

This calculation results in the total amount of per diem interest the person must bring to closing, which is $1,120. Thus, this amount correctly answers the question regarding the per diem interest required at closing.