Question

The tax on a property with an assessed value of $63,000 is $550. Using a proportion, findthe tax on a property with an assessed value of $94,000. Round to two decimal places

Answer 1

$820.63

Step-by-step explanation:

For two different properties, we have the following:

• Assessed Value = $63,000

,

• Tax = $550

• Assessed Value = $94,000

,

• Tax = $x

Using a proportion, we have:

`\begin{gathered} (63,000)/(94,000)=(550)/(x) \\ \text{Cross multiply} \\ 63,000x=94,000*500 \\ x=(94,000*500)/(63,000) \\ x=\$820.63 \end{gathered}`

The tax on a property with an assessed value of $94,000 is $820.63 (correct to 2 decimal places).