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yuradex [85]
3 years ago
11

Mr. Smith's $85,000 condominium is assessed at 35% of value. The tax rate is $2.70 per $100 of value. If the tax increases $.35

per $100 of value, his new tax will be:
Mathematics
1 answer:
wel3 years ago
4 0

Answer:

$907.38

Step-by-step explanation:

We have been given that Mr. Smith's $85,000 condominium is assessed at 35% of value.

First of all, we will find 35% of $85,000 as shown below:

\frac{35}{100}\times \$85,000

35\times \$850

\$29,750

We are also told that the tax rate is $2.70 per $100 of value. Now we will divide $29,750 by 100 as:

\frac{\$29,750}{\$100}=297.50

Since the tax rate is increased by $0.35 per $100 of value, so the new tax rate will be $2.70 plus $0.35.

\text{New tax rate}=\$3.05

\text{Amount of new tax}=\$3.05\times 297.50

\text{Amount of new tax}=\$907.375

\text{Amount of new tax}\approx \$907.38

Therefore, Mr. Smith's new tax will be $907.38.

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