scenario: terrill and natalia want to buy a home valued at $150,000. the property tax in their community is…

scenario: terrill and natalia want to buy a home valued at $150,000. the property tax in their community is 1 percent of the property’s value per year. how much will terrill and natalia be required to pay in property tax per year? $15 $150 $1,500 $15,000

scenario: terrill and natalia want to buy a home valued at $150,000. the property tax in their community is 1 percent of the property’s value per year. how much will terrill and natalia be required to pay in property tax per year? $15 $150 $1,500 $15,000

Answer

Explanation:

Step1: Convert percentage to decimal

1 percent is $0.01$.

Step2: Calculate property tax

Multiply property value by tax - rate. $150000\times0.01 = 1500$.

Answer:

$1,500$