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 properly 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 properly 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.
Solution Summary: The author explains how to calculate the value of T(x) and its meaning in the con 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 properly 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.
Patty’s Parasols recorded the monthly rainfall and their umbrella sales for an entire year. The following table shows the inches of rainfall and the number of umbrellas the store sold each month. The relationship between the inches of rainfall and umbrella sales can be modeled using a linear function.
Month
Jan.
Feb.
Mar.
Apr.
May
Jun.
Jul.
Aug.
Sept.
Oct.
Nov.
Dec.
Rainfall (in.)
2.5
3.1
4.0
4.3
3.6
2.4
1.2
0.6
1.5
1.4
1.1
2.6
Umbrella sales
132
140
162
170
156
103
98
87
84
78
110
125
Using technology, determine the correlation coefficient for the data to the nearest hundredth. Explain the steps you used.
What does the correlation coefficient for the data indicate about the direction and strength of the linear association between the monthly rainfall and the number of umbrellas sold?
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