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Question

Compute the assessed value for each property.

$\begin{aligned} \begin{array}{lccc} \textbf{Market Value} && \textbf{Assessment Rate}\\ \$71,500 && 60\% \end{array} \end{aligned}$

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 3To compute the assessed value of the property, multiply the market value $(\$71,500)$ by the assessment rate $(60\%)$.

$\begin{aligned} \$ \ \ 71,500\\ \times\ \ \ \ \ \ \ 0.6\\ \hline\ \$ \ \ 42,900 \end{aligned}$

Note: $60\% =0.6$

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