in new york, the tax on a business assessed at $670,000 is $12,060. if tax rates are proportional in this…

in new york, the tax on a business assessed at $670,000 is $12,060. if tax rates are proportional in this city, how much would the tax be on a business assessed at $890,000? answer: $

in new york, the tax on a business assessed at $670,000 is $12,060. if tax rates are proportional in this city, how much would the tax be on a business assessed at $890,000? answer: $

Answer

Explanation:

Step1: Find the tax - rate

Let the tax - rate be $r$. We know that for an assessed value $A_1 = 670000$ and tax $T_1=12060$. The formula for tax is $T = rA$. So, $r=\frac{T_1}{A_1}$. $r=\frac{12060}{670000}=0.018$

Step2: Calculate the tax for the new assessed value

We have a new assessed value $A_2 = 890000$ and the tax - rate $r = 0.018$. Using the formula $T = rA$, we get $T_2=rA_2$. $T_2=0.018\times890000 = 16020$

Answer:

$16020$