Add 1 to both sides:
In cases like this, we have to remember that a root is always positive, so we can square both sides only assuming that
Under this assumption, we square both sides and we have
The solutions to this equation are
But since we can only accept solutions greater than -1, we discard and accept
.
In fact, we have
and
which is the only solution.
We start by calculating the assessed value, that is 41% of the price.
The price is $92,000.
Then, the assessed value is:
The property tax rate is $39.50 per $1000 of assessed value, so we can express this rate as:
We then can multiply this rate by the assessed value to calculate the total property tax:
NOTE: we could have also multiplied 39.50 by 37.72. The value 37.72 is the thousands of dollars of assessed value. We would have obtained the same result: 39.50*37.72=1489.94.
Answer: the property tax is $1,489.94.
