Mathematics, 02.03.2020 05:34 ziar7176

The assessed value of Patty's residential property was $200,000 in 2004. In 2006, the
assessed value increased to $225,000. The property tax rate in both years was 1.2 percent.
Patty earned $60,000 each year.
a) Determine Patty's property taxes for 2004 by calculating 1.2 percent of $200,000 (multiply by 0.012), an
determine her taxes for 2006 by calculating 1.2 percent of $225,000. Subtract the 2004 tax figure from the
amount. How much more did Patty have to pay for her property tax in 2006 than in 2004?
b) You can calculate the percentage of Patty's income that she paid in property taxes with simple math. For
instance, in 2004, Patty paid $2,400 in property taxes. Divide that number by her income, $60,000, and you
0.04. or 4 percent. What percentage of her income did Patty pay in property taxes in 2006?

The assessed value of Patty's residential property was $200,000 in 2004. In 2006, the assessed value

Answers

Answer from: lilwon9933

$ 1,965,334

Step-by-step explanation:

Annual sales of company in 1999 = $ 1,200,000

Geometric mean growth rate = 10.37 % = 0.1037

In order to forecast we have to use the concept of Geometric sequence. The annual sales of company in 1999 constitute the first term of the sequence, so:

$a_{1}=1,200,000$

The growth rate is 10.37% more, this means compared to previous year the growth factor will be

r =1 + 0.1037 = 1.1037

We have to forecast the sales in 2004 which will be the 6th term of the sequence with 1999 being the first term. The general formula for n-th term of the sequence is given as:

$a_{n}=a_{1}(r)^{n-1}$

So, for 6th term or the year 2004, the forecast will be:

$a_{6}=1,200,000(1.1037)^{6-1}\\\\ a_{6}=1,965,334$

Thus, the forecasted sales for 2004 are $ 1,965,334

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 19:10, happy121906

With this question substitute t=3 and t=5 to determine if the two expressions are equivalent. 4(t + 3) 4t+12 which statements are true? check all that apply. a. the value of both expressions when t =5 is 32. b. the two expressions are not equivalent. c. the value of both expressions when t=3 is 15. d. the value of both expressions when t=5 is 23. e. the two expressions are equivalent. f. the value of both expressions when t=3 is 24.

Answers: 3

continue

Mathematics, 21.06.2019 20:30, derick263

The areas of two similar triangles are 72dm2 and 50dm2. the sum of their perimeters is 226dm. what is the perimeter of each of these triangles?

Answers: 1

continue

Mathematics, 21.06.2019 21:30, Gb728888

Af jewelry box is in the shape of a rectangular prism with an area of 528 cube inches. the length of the box is 12 inches and the height is 5 1/2 inches. what is the width of the jewelry box

Answers: 1

continue

Mathematics, 21.06.2019 23:20, braddypeter61

Interpret the following expression (5y^2-7)^3/(2y)^2

Answers: 2

continue

You know the right answer?

The assessed value of Patty's residential property was $200,000 in 2004. In 2006, the
assessed...