According to the utility-maximizing rule, one is not maximizing their total utility. They should consume more of goods A and less of goods B.
What is the explanation for the above result?Remember that when the marginal utility gained from the final dollar spent on both commodities is equal, overall satisfaction is maximized.
Mu/good price = marginal utility per dollar
Note that MU Per dollar of good A = 22/ 2
Hence given us: 2 Utils.
Mu per dollar of goods B on the other hand is:
4/2.25
= 1.77 Utils.
Since Good A provides more utility, from a rational point of view, more of Good A should be consumed and less of good B.
In economics, utility is defined as the enjoyment or value gained from using a thing. The marginal utility of an item or service reflects how much pleasure or satisfaction customers acquire as a result of a one-unit increase or reduction in consumption.
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hang ten surfing supplies have annual sales of $25 million, of which 3% goes to net margin. their balance sheet indicates that they carry $7.5 million in debt, on which they pay interest of 10%. they pay corporate taxes of 40%. what is their ebit?
Their EBIT calculated will be $ 2,000,000
Earnings before interest and taxes (EBIT):EBIT is a basic measure of a company operating profitability. As the name suggests, EBIT is net income excluding the effect of debt interest and taxes. Both of these costs are real cash expenses, but they are not directly operated by the company core business operations.
Calculating the problem:
EBIT is computed as:= [ (Sales x Net margin) / (1 - tax rate) ] + Amount of debt x interest rate)
= [ ($ 25,000,000 x 3%) / (1 - 0.40) ] + $ 7,500,000 x 10%
= [ $ 750,000 / 0.60 ] + $ 750,000
= $ 1,250,000 + $ 750,000
= $ 2,000,000
How EBIT is calculated?EBIT is measured by subtracting a company cost of goods sold (COGS) and its operating expenses from its revenue.
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you are in the process of designing a research plan to investigate if ad a resulted in higher sales compared to ad b. what research design are you likely to choose based on this objective?
You are investigating if Ada CAUSES higher sales or ADb CAUSES higher research. So it is causal research.
Explanatory research, also known as causal research, examines if there is a cause-and-effect link between two disparate events. Researchers create experiments to get statistical proof of the relationship between the circumstances since numerous alternative factors might affect cause and effect. The data is then generally examined to ascertain the reasons behind the relationship's emergence, to understand more about how it functions, and to ascertain whether it may be applicable in a wider context. In order to see if the first situation's conditions have any new repercussions on the second, they can also change them.
It's crucial to gather information to determine whether specific circumstances are true in order to effectively establish a cause-and-effect relationship.
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tyson is a trader and borrows money in japanese yen (where the interest rate is 1 percent). he then invests the money in a canadian bank, where the rate is 5 percent. this is an example of a(n) .
The given condition is an example of a carry trade.
What is a Carry Trade?
A carry trade is a type of trading strategy that consists of borrowing at a low-interest rate and investing in an asset that gives a higher rate of return. A carry trade is actually based on borrowing in a low-interest rate currency and transforming the borrowed amount into another currency.
Why are carry trades profitable?The purpose of a carry trade is to pay a less interest rate on the asset that you're borrowing, this refers to that you should profit from a higher interest on the asset that you have purchased. Most traders will enter a better position with the hope that the higher yielding currency will appreciate in value.
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your coworker, who is a good friend of yours, arrives late. your boss is not there that day, but calls in the afternoon to ask you if your coworker arrived timely. this situation is best described as a:
This situation is best described as Conflict of loyalty.
Conflict of Loyalty:
Conflicts of loyalty usually occurs where, in considering a matter, a member of a decision-making body is influenced by an affiliation with an entity for which the matter is being supposed.
How do you deal with loyalty conflict?An adaptive and healthy way to deal with a loyalty conflict is for the child to adopt a neutral position and avoid picking one parent over the other; a situational way to deal with a loyalty conflict is for the child to align strongly with one parent and shun the other.
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What is the effect on the financial statements of writing off an uncollectible account under the direct write-off method?.
A small firm can quickly debit the bad debt expense account and credit accounts receivable under the direct write-off technique when it deems an invoice uncollectible is the effect on the financial statements of writing off an uncollectible account under the direct write-off method.
Because the corporation does not anticipate receiving payment, when debts are written off, they are eliminated as assets from the balance sheet. When a bad debt is wiped off, however, part of its value is still considered an asset. As a result, both the income that was recorded and the unpaid debt owed to the company is removed from the records.
The write-off reduces assets (accounts receivable) and raises assets (allowance for doubtful accounts), but there is no net change in total assets, total liabilities, or shareholders' equity as a result of the write-off. The statement of cash flows is unaffected by a write-off.
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when conducting selection interviews, philip likes to ask questions like "tell me what you know about the company" and "tell me what you like most about your current job." phillip is asking questions. open-ended closed-ended hypothetical unstructured
By asking them "tell me what you know about the company" and "tell me what you like most about your current job." Philip is asking them open -ended questions in selection interviews.
Open-ended questions are the questions in which respondent is free to answer whatever they want there is no specific answer to those questions.
Open-ended questionnaire survey are unorganized and give participants the opportunity to express their complete awareness, feelings, and comprehension in an open platform. This questionnaire does not only include a few possible solutions.
An open-ended change allowed you to dive deep into the respondent's explanations and garner crucial information regarding the subject, as compared to a closed-ended question, that also restricts and reduces completed questionnaires to the provided options. Such questions can be employed to elicit detailed and demonstrative details about a subject.
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a country's real gdp in 2014 is $400,000 and increases by 2% in 2015. the population is 1,000 in 2014 and increases to 1,200 in 2015. the country's real gdp per capita in 2015 is $ .
The country's real GDP per capita in 2015 given its real GDP in 2014, percentage increase and the change in population is $340.
What is the country's real GDP per capita?Real GDP per capita is the ratio of a country's GDP to its population. Real GDP per capita gives an indication of the standard of living of a country's population. The higher real GDP per capita, the higher the standard of living. The real GDP per capita indicates how much of the real GDP each person in a country gets.
Real GDP is the gross domestic product of a country adjusted for inflation. Gross domestic product is the sum of all the goods and services that a country produces in a given year.
GDP per capita = real GDP / population
Real GDP in 2015 =(1 + percentage increase) x real GDP in 2014
(1.02) x $400,000 = $408,000
GDP per capita = $408,000 / 1,200 = $340
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Given an industry is producing the socially efficient output level, a tax placed on the industry will result in inefficiency because the market will produce.
If an industry is producing the socially efficient output level, a tax placed on the industry will result in inefficiency because the market will produce. c) too few units, giving up some units that have more consumer value than productive costs.
What is consumer value?Consumer value can be defined as the way in a company tend to produce or manufactures goods that meets a consumer preference during this may enables consumer derived satisfaction from the use of the product.
Based on the scenario the tax may have a negative effect on the company as they may start producing goods or product that does not have more consumer value.
Therefore the correct option is C.
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The complete question is:
Given an industry is producing the socially efficient output level, a tax placed on the industry will result in inefficiency because the market will produce
a) too many units, as some units produced will have more productive costs than consumer value.
b) too many units, as some units produced will have more consumer value than productive costs.
c) too few units, giving up some units that have more consumer value than productive costs.
d) too few units, giving up some units that have more productive costs than consumer value.
An auditor would vouch inventory on the inventory status report to the vendor’s invoice to obtain evidence concerning management’s balance assertions about.
An auditor would attest inventory on the inventory status report to the vendor's invoice to gain proof regarding management's balance statements. The right answer is "valuation."
Valuation is the process of figuring out what a business or item is now worth. Various methods can be used to do it.Calculating the fair value of a company, an investment, or an asset is done quantitatively through valuation. In general, a company can be valued separately on an absolute basis or separately relative to other comparable companies or assets.When the management asserts that the financial statements they have created are accurate, they are using the term "management assertion." The Accounting Standard Board divides management claims into three categories: assertions regarding transactions, balances of accounts, and disclosures and footnotes.To know more about "valuation", here
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porter’s competitive strategies outline four different generic corporate strategies. this activity is important because knowledge of these strategies can help an organization to outperform its competitors and create a sustainable competitive advantage. the goal of this activity is to test your knowledge of porter’s four competitive strategies. each item is either a description of porter’s four different types of competitive strategies (including their goals and the size of their target markets) or an example of a company employing one of porter's strategies. for each item, select the competitive strategy it best represents.
Porter’s competitive strategies that are appropriate responses respectively
1) Differentiation 2) Focused-differentiation
3) Cost-leadership 4) Cost
What is porter’s competitive strategies ?Using the constraints of its preferred market scope, a company attempts to gain a competitive edge according to Porter's generic tactics. There are three types of generic strategies: focused , differentiating, or lower cost.
One of two strategies for gaining a competitive edge is available to businesses: either decreasing costs in comparison to its rivals or differentiating along consumer dimensions in order to charge a higher price.
Additionally, a business chooses between two possibilities for its scope: focused (supplying its products to certain market segments) or industry-wide.
The decisions made in light of the kind and extent of competitive advantage are represented by the generic strategy. The concept was first presented by Michael Porter in 1980.
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HELP ASAP PLEASE! 20 POINTS!!
Jessica owns a small trading company. The company buys small vending machines from a manufacturer and sells them to the a retailer, thus making a profit. Why are these vending machines a part of the trading firm’s current assets?
A.
the vending machines market value is lower than their original cost
B.
the vending machines are a part of the company’s income
C.
the vending machines are a part of the company’s expenses
D.
the vending machines are to be sold and converted into cash within the normal period of operation
E.
the vending machines could be sold at a loss
Answer:is the letters B
Explanation:
Answer: B
Explanation:
determine which direction a country’s ppc will shift as a result of these major events. the country is hit by a natural disaster that destroys its infrastructure. the government starts 50 new medical clinics in rural areas. there is an acute shortage of teachers in several of the country’s states. seven computer hardware companies set up new manufacturing units in the
The direction a country’s ppc will shift as a result of these major events will shift to the left.
A natural disaster strikes the nation, destroying its infrastructure. Several states around the nation are severely short on instructors.A Rightward Shift
Fifty new medical clinics are opened by the government in rural areas.Seven manufacturers of computer gear have opened new facilities in the nation.Production potential curves (PPC) frequently vary as a result of advancements in technology or expanding economies. A shift to the right happens when more products are created as a result of technological advancement, ceteris paribus. This change may also take place when the economy expands and more capital and consumer items can be produced.
When a natural disaster occurs, it may affect production components that are essential inputs to the economy. As a result, the economy's production will decline. The PPC will shift to the left, for instance, if a tsunami diminishes the magnitude of the inputs that the economy uses to make the outputs.
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insurance textbooks traditionally define risk as a. the probability of a loss occurring. b. any situation in which the probability of loss is zero. c. any situation in which the probability of loss is one. d. uncertainty concerning the occurrence of loss.
Insurance textbooks traditionally define risk as uncertainty concerning occurrence of loss.
What is insurance?
In order to protect oneself from financial loss, one party will guarantee another party compensation in case of a specific loss, damage, or injury in return for a fee. It is a method of risk management that is primarily employed to protect against the risk of a potential loss. An organisation that offers insurance is referred to as an underwriter, insurer, insurance company, or carrier. A person or entity that purchases insurance is referred to as a policyholder, and someone or something that is protected by the policy is referred to as an insured. Although the terms policyholder and insured are frequently used interchangeably, they are not always synonymous because additional insureds who did not purchase the insurance may occasionally be covered.
Therefore, the correct option is (D) uncertainty concerning the occurrence of loss.
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what is one potential advantage of being a publicly-held company? a public company always has a higher share price than a private company. a public company may gain from greater investor involvement than a private company. a public company may have a more prominent reputation than a private company. a public company has fewer requirements to meet when it comes to shareholder communication and reporting.
A public company may have a more prominent reputation than a private company is one potential advantage of being a publicly-held company.
A public company enterprise, publicly traded agency, publicly held company, publicly indexed business enterprise or public confined business enterprise is a agency whose ownership is organized through stocks of inventory which might be intended to be freely traded on a stock alternate or in over-the-counter markets.
A public organization is a business enterprise that has offered all or a part of itself to the general public through an preliminary public supplying. the primary benefit public organizations have is their capacity to faucet the monetary markets by way of promoting inventory (equity) or bonds (debt) to elevate capital (i.e., cash) for expansion and different tasks.
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one bag of coffee beans is sold for $5 to a cafe that uses it to brew coffee which it sells to customers for a total of $20. a second bag of coffee is sold directly to joan for $7, who uses it to brew coffee for her family every morning. what is the contribution to gdp from the purchases of coffee beans and coffee?
The purchase of coffee beans and coffee results in a $27 contribution to the GDP.
What is the GDP?Gross Domestic Product (GDP) is the most inclusive quantitative indicator of a nation's total financial activity. More specifically, GDP is the monetary estimation of all goods and services produced inside a nation's borders during a certain period of time, assuming that all other factors are equal.
Here's how we figure it out:
A coffee shop buys one bag of beans for $5,
which it then sells to customers for a total of = $20
a second bag of beans is then bought directly by Joan for = $7
purchase of coffee beans and coffee results in a contribution to GDP= $20+ $7 = $27.
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Which example shows a victim authorizing a scam or fraud?
A. Juan got a call saying he had unpaid parking tickets and they asked for his credit card number. He gave it to them to avoid going to jail.
B. Drew paid for his meal using his credit card. The waiter copied his card and then used the card to purchase things later.
C. Deandre had his identity stolen when he lost his credit card.
D. Samantha used public Wi-Fi to log into her bank account. A couple of days later, there were some mysterious withdrawals from her account.
Answer:
most likely B
Explanation:
because it's fraud
You are looking for a sales associate position in a retail store. You find an online job posting for a retail store that sells casual apparel for young men and women. What are some ways that you could find out more information about the company before you apply for the retail store position?
You can learn more about the position from a variety of sources, including job advertisements, career counselors, career profiles, and your network of friends.
What are some methods by which you could learn more about the business?
1. Career profiles: You can talk with people using these to learn more about jobs and obtain interview preparation advice.
2. Career counselors: They are the ideal people to assist you in finding a job.
3. Job Advertisement: This is a fairly straightforward technique to learn about the fundamental requirements and assess how well you meet them.
4. Network: Knowing the job and succeeding at it both depend on networking.
Here, you can learn more about the sales associate position in detail by reading the job description on the firm's website or in a job portal, browsing the website to get ready for the interview, and connecting with your friends to learn more about the profile in general.
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if an employee's primary function in an organization is transforming resources into goods and services, then he or she is involved in multiple choice staffing. financing. marketing. operations management. customer relationship management.
If an employee's primary function in an organization is transforming resources into goods and services, then he or she is involved in operations management.
Operations management is a branch of management concerned with the design and control of the manufacturing process, as well as the redesign of operational processes in the production of products or services. Operations management (OM) is the management of corporate practices within an organization to achieve the highest possible level of efficiency. Operations management is the managerial activity in charge of overseeing a service's or product's entire production timeline, from the input terminal to the final stage.
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management has questions. accountants have answers. these answers should come from either internal or external business processes. and come from which firm information system (customer relationship management, enterprise system, supply chain)?
The answers for the management questions are from customer relation ship, enterprise system and supply chain.
1. The company's internal fixed asset value is recorded in the enterprise management system.
2. Zappo is a client, and shoes information comes from an outside source. Customer relationship management software is used to handle customer data.
3. Third-party delivery times are managed through the supply chain and are an external source of information.
4. The enterprise management system is used to handle the salaries of the accounting personnel.
5. An internal source of information maintained by the enterprise management system is the books of accounts.
6. Supply chain management is used to track the delivery times for General Motors as an external source of information.
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The complete question is given in the attachment figure
the misery index: a. measures the difference between real interest rates and nominal interest rates. b. is the sum of the unemployment rate and inflation rate. c. equals the unemployment rate among unskilled workers in an economy. d. is calculated as the sum of the inflation rate and labor force participation rate.
The misery index is the sum of the unemployment rate and inflation rate.
The misery index is meant in order to measure the degree of economic distress which is felt by everyday people, due to the risk of unemployment which is thus combined with an increasing cost of living. so, the misery index is calculated by adding the seasonally adjusted unemployment rate to the inflation rate.
It is said that the first misery index was created by Arthur Okun and so this was equal to the sum of inflation rate as well as the unemployment rate figures which provided a snapshot of the U.S. economy.
Hence, option B is correct.
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adriana gomez is a newly hired production manager for abc corporation which manufactures wind turbines. as a new manager, abc corp sends adriana to training to familiarize herself with laws that might impact her work. what laws would most likely impact a production manager?
Tort law, environmental law, contracts most likely impact a production manager.
Theatrical production management is a sub-department of stagecraft. The production control group is responsible for realizing the visions of the manufacturer and the director or choreographer inside constraints of technical possibility.
A production manager is a professional who oversees the manufacturing method and coordinates all sports to ensure sufficient sources on hand. they can plan people' schedules, estimate prices and prepare budgets to make sure workflow meets required cut-off dates.
Production managers are responsible for the technical management, supervision and control of industrial production approaches. Shift and 'on-call' paintings can be required, specially where production/manufacturing device is in persistent 24-hour operation.
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hat is the effect of tariff on a particular product for the country imposing the tariff? a. increases domestic production of the product b. decreases the deadweight cost of the country c. increases domestic consumption of the product d. decreases government trade revenues
Increases domestic production of the product. It is correct because imposing a tariff decreases the number of imported goods into the domestic economy.
The correct option is d.
Tariffs increase the prices of imported items. because of this, home producers are not compelled to lessen their expenses from expanded opposition, and home customers are left paying higher expenses as a result.
Virtually, the manner in wherein import demand responds to modifications in tariffs will depend upon a spread of factors.
Those encompass the reaction of producers and purchasers to fee changes, the share of imports in domestic manufacturing and intake, the substitutability of imports for domestic products, and so on.
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a parent buys 32 percent of a subsidiary in one year and then buys an additional 40 percent in the next year. in a step acquisition of this type, the original 32 percent acquisition should be
The acquisition type is adjusted to market value on the subsequent inception of the contract, with a gain or loss recorded.
Acquisition accounting is a set of formal guidelines that govern how a buyer must record a purchased company's assets, liabilities, non-controlling interest (NCI), and goodwill on its consolidated statement of financial condition.
On the buyer's balance sheet, the fair market value of the purchased company is distributed between the buyer's net tangible and intangible assets. Any resulting change is seen as goodwill. Acquisition accounting is also known as business combination accounting.
According to International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), all business combinations must be treated as acquisitions for accounting purposes, which means that one company must be identified as an acquirer and one company must be identified as an acquirer even if the transaction creates a new company.
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a sales rep is on a phone call with a prospect who likes to control the conversation. the constant interruptions make it hard for the rep to find out the prospect's pain points and to pitch.
The sales rep when dealing with a prospect who likes to control conversations should a) ask the prospect what she hopes to get out of the call to encourage her to re-focus.
For a sales rep, dealing with prospects is the main part of the job that will help them to grab clients. The sales rep has to make sure that the prospects do not get offended and hence have to listen to them even when they like to control conversations.
However, when dealing with people who talk to much, a sales rep should ask politely for the person to know what her interests for the call are. If she is interested in the product, then the sales rep can further focus the call for making a sale and can make a pitch. However, if the prospect just seems to be a person of no interest in the product, then the call can be ended without offending the prospect.
Although a part of your question is missing, you might be referring to this question:
A sales rep is on a phone call with a prospect who likes to control the conversation. the constant interruptions make it hard for the rep to find out the prospect's pain points and to pitch.
a) Ask the prospect what she hopes to get out of the call to encourage her to re-focus
b) Tell the prospect that to work together well, she needs to follow the rep's call structure
c) Incorporate what the prospect says into his talking points when there's an opening
d) Offer to set up an in-person appointment to discuss the sales process in more detail
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If a 25% price increase for product a causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for product b, what is the cross-price elasticity of these goods? round your answer to one decimal place.
As the increase in price and quantity of B is not affected, the cross-price elasticity of these goods will be zero 0.
The quantity required of a good changes in response to a change in the good's price, as shown by the price elasticity of demand.
The change in a product's quantity requested as a result of a change in the price of an associated good is known as cross-price elasticity. Finding the ratio between a proportionate change in quantity required and a corresponding change in price yields the cross-price elasticity.
In this case, cross-price elasticity will be %change in quantity Y ÷ %change in price X = 0 ÷ 25 = 0 This states that the two goods have no relationship.
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an investor has an annual income of $100,000 and a net worth of $1 million. what is the annual limit that this investor can invest in all crowdfunding offerings?
If an investor has an annual income of $100,000 and a net worth of $1 million. The annual limit that this investor can invest in all crowdfunding offerings is $5000.
Crowdfunding is a kind of finance where funds are raised by asking a large number of individuals to make relatively small individual investments or contributions.
The federal securities regulations must be followed if a corporation wants to issue and sell securities through crowdsourcing. Any offer or sale of a security must, by law, either be registered with the SEC or qualify for an exemption.
Regulation The sale of up to $1.07 million worth of securities can be made by businesses without registering the offering with the SEC thanks to a crowdfunding exemption from the registration requirements for securities-based crowdfunding.
The general public now has the chance to take part in the early capital raising operations of start-up and early-stage enterprises thanks to regulation crowdfunding. In a Regulation Crowdfunding offering, anybody can invest. However, the amount you can invest in these transactions over any 12-month period is capped due to the dangers associated with this sort of investment. Your net worth and yearly income determine the maximum amount you are permitted to invest.
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if jane wants to buy a lava lamp for her living room, she can browse 17 sites. what are the benefits of electronic retailing compared with in-store retailing?
Store Retailing is a fixed of enterprise sports that provides price to the goods and offerings offered to customers for his or her non-public or own circle of relatives use. A store is an enterprise that sells merchandise and/or offerings to customers for non-public or own circle of relatives use.
The mixture of things shops uses to meet purchaser wishes and have an effect on their buy choices is referred to as the firm's: retail mix. electronic retailing.
Business sports discuss with the sports carried out via way of means of agencies to make an income and make sure enterprise continuity. Examples include production, sales, buy of property, plant, and equipment, acquisition of different companies, buying marketable securities, and acquiring loans from monetary institutions. A purchaser marketplace is a marketplace whilst people buy services or products for his or her personal non-public use, in place of shopping for it to promote themselves.
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as the price of gummy bears rises from $2.50 to $2.90 , what is the price elasticity of demand of sugar‑free gummy bears and of ordinary gummy bears? use the midpoint method and specify answers to one decimal place.
The given data has no quantity so let us assume the quantities of sugar and ordinary gummy bears. The price elasticity of demand is simply the change in the quantity over the change in the price.
Sugar free gummy bears:
Initial price(P1) = $2.50 Changed Price(P2) = $2.90
Assumed Quantity Q1 = 175 Q2 = 157
By mid point method price elasticity =
Ed= (Q2-Q1)/[(Q1+Q2)/2]÷ (P2-P1)/[(P1+P2)/2]
So, (157-175)/[(175+157)/2]÷ (2.90-2.50)/[(2.90+2.50)/2]
= (-18/166)÷(-0.4/2.7) = -0.73
Similarly for Ordinary gummy bears with P1=$2.50 P2=$2.90 Assumed Quantity Q1= 379 Q2= 273, by midpoint method the price elasticity is
Ed= (Q2-Q1)/[(Q1+Q2)/2]÷ (P2-P1)/[(P1+P2)/2]
(273-379)/[(379+273)/2]÷ (2.90-2.50)/[(2.50+2.90)/2]
=-2.2
Hence, the elasticity of demand of sugar-free and ordinary gummy bears are -0.73 and -2.2, respectively.
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the most important things investors want to know are what makes the product more desirable than what's already available and whether or not the product can be patented. in which section of the business plan should investors look to find this information?
The product more attractive than what is presently on the market are the most crucial elements that investors want to know. Should investors check at the marketing plan to find this information.
A marketing plan is a written document that details a company's planned, often one-year, marketing initiatives. It describes the intended advertising, promotion, and marketing initiatives during the investors time frame.
A marketing plan is a practical document that describes the advertising strategy that will be used by a firm to create leads and connect with its target market. The outreach and investors PR programs that will be run over time are described in a marketing plan, along with how the business will evaluate their success.
As a marketing plan is created based on a broad strategic framework, the phrases marketing strategy and marketing plan are sometimes used interchangeably. Sometimes, especially for smaller businesses that might only execute one or two significant campaigns each year, the strategy and the plan may be combined into a single document. Unlike the marketing strategy, which describes the overarching value offer, the plan specifies marketing actions on a monthly, quarterly, or annual basis.
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your client michael feels like he’s getting a great deal on the purchase of his home, since he’s paying only $385,000 and the assessed value is $492,500. he asked you to estimate his monthly property taxes. you know the rate for his jurisdiction is .52%.
If your client Michael feels like he’s getting a great deal on the purchase of his home, since he’s paying only $385,000 and the assessed value is $492,500. he asked you to estimate his monthly property taxes. The monthly taxes is $213.42.
Monthly taxesGiven data :
Cost of home = $385,000
Assessed value = $492,500
Rate = .52%
Now let determine or find the monthly taxes
First step is to calculate the yearly tax rate
Yearly tax rate = Assessed value x tax rate
Yearly tax rate = $492,500 × .0052
Yearly tax rate = $2,561
Second step is to calculate the monthly taxes
Monthly taxes = Annual tax rate / Months in a year
Monthly taxes = $2,561 / 12
Monthly taxes = $213.42
Therefore we can conclude that the monthly taxes based on assessed value is the amount of $213.42.
Learn more about monthly taxes here:https://brainly.com/question/26255303
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