anonymous
  • anonymous
I got [298. ] is that correct ? *Financial algebra* Bradley purchased a home for $149,000. He made a 30% down payment and financed the remaining amount. The intangible tax is 0.2%.
Mathematics
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
$20,860.00 $208.60 $29,800.00 $298.00
anonymous
  • anonymous
0.2% * 149000 = 298.
amistre64
  • amistre64
cant say i know what an intangible tax relates to :/

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anonymous
  • anonymous
but do you think my answer might be right ?
amistre64
  • amistre64
well, it does look like one of the options ... but then I got no idea what the correct option may be
amistre64
  • amistre64
A tax imposed by some states or local governments on the market value of intangible assets such as stocks, bonds, money market funds, and bank account balances.
amistre64
  • amistre64
a house is not an intangible object ... whichis why this doesnt really make sense for me
amistre64
  • amistre64
if we do it on the value of the loan .. minus the down payment, we get 208
anonymous
  • anonymous
so my choice is correct ?
anonymous
  • anonymous
do I do something with the 30% ?
amistre64
  • amistre64
youll have to look in your material to see how it defines an intangible tax ... i got no sure idea about it
amistre64
  • amistre64
im going with the balance ... which is the amount after the 30% down payment
anonymous
  • anonymous
I did , Its just showing me M=B[((i)(1+i)^(n*t))/((1+i)^(n*t)-(1)) but with a whole different question than this one
amistre64
  • amistre64
its 298 if you do the house selling price its 208 if you just do the balance of the loan itself
anonymous
  • anonymous
I dont know which one too choose o.O
amistre64
  • amistre64
http://www.titleprosflorida.com/index_files/trfl.htm
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anonymous
  • anonymous
Alright so 208.60 is the right choice ?
amistre64
  • amistre64
im not saying its right, but its the one id choose
anonymous
  • anonymous
Truuue thanks tho for the help man
amistre64
  • amistre64
good luck

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