He pays $450 in taxes.
Since the first $10,000 of the assessed value is exempt, we subtract $10,000 from the $25,000 assessed:
25000-10000=15000
Now we need to see how many $100-increments are in 15000. We do this by dividing:
15000/100 = 150
Each of these raises the taxes by $3:
150(3) = 450
A=p(1+i/m)^mn
Interest earned
I=A-p
A=980×(1+0.08÷4)^(4×5)
A=1,456.23
I=1,456.23−980
I=476.23
A=7,200×(1+0.04)^(8)
A=9,853.69
I=9,853.69−7,200
I=2,653.69
A=15,520×(1+0.06÷2)^(2×4)
A=19,660.27
I=19,660.27−15,520
I=4,140.27
