Answer:
$29500
Step-by-step explanation:
We have been given that Tariq lives in Palm Beach, Florida, and purchased a house for $250,000. The amount of millage for property tax is 11.8%. We are asked to find the amount of property tax that Tariq paid.
To find the amount of property tax paid by Tariq, we need to calculate 11.8% of $250,000.
Therefore, Tariq paid an amount of $29500 in tax.
Answer:
$ 1,060.00
Step-by-step explanation:
A = $ 1,060.00
A = P + I where
P (principal) = $ 1,000.00
I (interest) = $ 60.00
Compound Interest Equation
A = P(1 + r/n)^nt
Where:
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period
