Answered

The Ricardos own a home whose market value is $123,000. Their municipality taxes at 75% and the rate is 60 mills or $60 per thousand. What will the Ricardos pay in taxes?

A$5,535
B$9,250
C$7,380

Verified Answer :

alainakay34

Option A seems to be correct

Answer:

Option a - $5,535 would be correct

Step-by-step explanation:

Market value of Ricardos home = $123,000

Municipality taxes at = 75% of the value

                                  = 75% of 123,000 = 0.75 × 123,000

                                  = $92,250

Taxes will pay at the amount $92,250 at the rate 60$ per thousand.

Therefore we divide this amount to 1000.

= 92,250 ÷ 1000 =  92.25

Tax rate is $60 for one thousand, therefore

60 × 92.25 = $5,535

Ricardos pay $5,535 in taxes.

Option A would be correct.

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