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 propertys 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 propertys 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 = 0.01

Step2: Calculate property tax

Property tax = Property value × Tax - rate. The property value is $150000 and the tax - rate is 0.01. So, $150000\times0.01 = 1500$

Answer:

$1,500$