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QMB 3003 Exam 2 Latest 2026-2027/QMB 3003 Exam 2 Preparation/QMB 3003 Exam 2 Practice Exam With Complete 50 Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+|Brand New Version!!
Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is - ANSWER-
$17,992.40
The home of Russell Slater is assessed at $140,000. The tax rate is 11.8
mills. The actual amount of tax on Russell's home is: - ANSWER-$1,652
Calculate tax rate per dollar (six decimal places):
City: Reese
Total Assessed Rate: $48,000,000
Budget Required : $895,000 - ANSWER-$.018646
John's Market is assessed for $95,000. The current tax rate is $92.45 per $1,000 of assessed value. Calculate the tax due. (Round your final answer to the nearest cent.) - ANSWER-$8,782.75
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Bea Bonnet bought a new Apple computer for $1,250.99. This price included a 6% sales tax. What is the actual selling price before the tax as well as the sales tax amount? (Round your intermediate calculations and final answer to the nearest cent.) - ANSWER-$1,180.18 ; $70.81
The home of Al Gard is assessed at $70,000. The tax rate is 6.15 mills.What is the tax on Al's home? (Round your final answer to the nearest cent.) - ANSWER-$430.50
Calculate (A) actual sales and (B) sales tax. (Round your final answer to the nearest cent.)
Total sales: $1,200.15 (includes a 5% tax.) - ANSWER-$1,143.00 ;
$57.15
Al's Garage has a market value of $425,000. The property in Al's area is assessed at 40% of the market value. The tax rate is $148.50 per $1,000 of assessed valuation. Find the tax for Al. (Round your answer to the nearest cent.) - ANSWER-$25,245.00
John Rich purchased a ring for a retail price of $13,000. There is a sales tax of 7% along with a 10% excise tax. What is the total cost to John?(Round your answer to the nearest cent.) - ANSWER-$15,210.00
Dollar markdowns represent price increase to the original selling price - ANSWER-False
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