Need help asap!!!! By 1 pm
1 answer:
You might be interested in
We start by calculating the assessed value, that is 41% of the price.
The price is $92,000.
Then, the assessed value is:
The property tax rate is $39.50 per $1000 of assessed value, so we can express this rate as:
We then can multiply this rate by the assessed value to calculate the total property tax:
NOTE: we could have also multiplied 39.50 by 37.72. The value 37.72 is the thousands of dollars of assessed value. We would have obtained the same result: 39.50*37.72=1489.94.
Answer: the property tax is $1,489.94.
bear in mind that the continuously compounding interest is just that, a daily compounding cycle, taking a year as 365days.