Millage rate is the amount per $1000 that is often used to calculate property tax. For example, a home with a $ 60 , 000 taxable value in a municipality with a 19 mil tax rate would require 0 .019 $60,000 =$1140 in property taxes. In one county, homeowners pay a flat tax of $172 plus a rate of 19 mil on the taxable value of a home. a. Write a linear function that represents the total property tax T x for a home with a taxable value of x dollars. b. Evaluate T 80 , 000 and interpret the meaning in the context of this problem.
Millage rate is the amount per $1000 that is often used to calculate property tax. For example, a home with a $ 60 , 000 taxable value in a municipality with a 19 mil tax rate would require 0 .019 $60,000 =$1140 in property taxes. In one county, homeowners pay a flat tax of $172 plus a rate of 19 mil on the taxable value of a home. a. Write a linear function that represents the total property tax T x for a home with a taxable value of x dollars. b. Evaluate T 80 , 000 and interpret the meaning in the context of this problem.
Millage rate is the amount per
$1000
that is often used to calculate property tax. For example, a home with a
$
60
,
000
taxable value in a municipality with a 19 mil tax rate would require
0
.019
$60,000
=$1140
in property taxes. In one county, homeowners pay a flat tax of
$172
plus a rate of 19 mil on the taxable value of a home.
a. Write a linear function that represents the total property tax
T
x
for a home with a taxable value of
x
dollars.
b. Evaluate
T
80
,
000
and interpret the meaning in the context of this problem.
The monthly payment p on a mortgage varies directly with the amount borrowed b. Suppose that you decide to borrow $190,000 using a 30-year mortgage at 4% interest. You are told that your monthly payment is $907.09.
Write a linear function that relates the monthly payment p to the amount borrowed b for a mortgage with the same terms.
College Algebra with Modeling & Visualization (5th Edition)
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