Answered

The tax rate on Jerome Jame's $112,000 vacation home is 25 mills. The property is assessed at full value. How much will Jerome pay in taxes this year?

A$7,800
B$2,800
C$28,000
D$780

Verified Answer :

C28,000 The correct answer is 28,000

Answer:  Option 'B' is correct.

Step-by-step explanation:

Since we have given that

Amount of vacation home of Jerome Jame = $112000

Rate of tax = 25 mills

means, 25 on  each $1000.

So, Amount of tax paid by Jerome is given by

\(\frac{25}{1000}\times 112000\\\\=25\times 112\\\\=\$2800\)

Hence, Option 'B' is correct.

Related Questions