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1. Find the annual insurance premium.
A person's youthful-operator factor is 2.95. The annual premium for liability coverage is $238.20 for bodily injury and $166.20 for property damage.
$1192.98
$1190.03
$1163.48
$404.40
2. Find the assessed value for the property.
Fair market value: $97,000
Rate of assessment: 30%
$29,100
$14,550
$291,000
$67,900
3. A taxpayer's property has a fair market value of $94,000. The rate of assessment in the area is 35%. The tax rate is $5.34 per $100 of assessed valuation. Find the property tax.
$5019.60
$1756.86
$501,960.00
$175,686.00
4. Find the tax rate for the area. Round to the nearest tenth of a percent.
Total tax needed: $970,000
Total assessed value: $113,630,000
9.00%
1.1%
0.9%
0.8%
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