Answer:
Factors can be defined as a number or algebraic expression which divide the dividend without leaving any reminder.
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
2,205 hours a year.
245 days a year.
