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A property owner paid 840.00 in property taxes to the Jay county collector. What was the assessed value of the property if the tax rate was 1.36%?

Respuesta :

This question, in math terms, would mean $840 is equal to 1.36%. We need to find 100%.

Thus naming the variable "x" as the assessed value of the property,

[tex]840 = \frac{1.36}{100} * x[/tex]

Solve for x.

[tex]84000=1.36x[/tex]

x=61764.7058824

Rounded to the nearest hundredth, the assessed value of the property is $61,764.71