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soldi70 [24.7K]
3 years ago
7

Property taxes are based on an assessed value of $132,000 and the tax rate is 8.5 mills. The property closes on Jun 14. On a bas

is of the banker’s calendar, the seller owes how much in taxes?
Mathematics
1 answer:
defon3 years ago
6 0

Answer:

$132,000 X .0085 = $1,122 / 360 = $3.1166 X 164 = $511.13

One mill is one dollar per $1,000 dollars of assessed value.

In our case 8.5 mills equivalent to 0.0085.

So to get the assessed value for one day

we will get

$132,000 X .0085 = $1,122 / 360 = $3.1166

Now we have the value for one day,

For June 14, we will calculate the days from January 1st to date

total days are 164.  i.e. 5*30+14 = 164

Finally, the seller owes

$3.1166 * 164 = 511.13

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The table is not clear, so i have attached it.

Answer:

z statistic is -2.26

This is less than our alpha level,therefore we reject the null hypothesis and conclude that there is a significant difference in the proportion of homeowners between first generation and second generation Hispanic Americans

Step-by-step explanation:

From the attached table, we can see that;

first-generation hispanic americans; (N = 899 and percentage = 43%

second-generation hispanic americans; N = 351 and percentage = 50%

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second-generation asian americans; N = 566 and percentage = 51%

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z = (p1^ - p2^)/(√(p^(1 - p^)((1/n1) + (1/n2))

Where;

p^ = (p1 + p2)/(n1 + n2)

For, hispanic americans we have;

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p2^ = 0.5 × 351 = 175.5

p^ = (386.57 + 175.5)/(899 + 351)

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P-value = 0.01191

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This is less than our alpha level of 0.05,therefore we reject the null hypothesis and conclude that there is a significant difference in the proportion of homeowners between first generation and second generation Hispanic Americans.

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