sebastian and mia want to buy a home valued at $250,000. the property tax for this location is 1%. based on…

sebastian and mia want to buy a home valued at $250,000. the property tax for this location is 1%. based on the current value of the home, what would their property tax be?\n$25\n$250\n$2,500\n$25,000

sebastian and mia want to buy a home valued at $250,000. the property tax for this location is 1%. based on the current value of the home, what would their property tax be?\n$25\n$250\n$2,500\n$25,000

Answer

Explanation:

Step1: Convert percentage to decimal

1% is written as 0.01 in decimal form.

Step2: Calculate property tax

Multiply home - value by tax rate. So, $250000\times0.01$. $250000\times0.01 = 2500$

Answer:

$2,500$