Question
Question 1- The mill rate of a residential property in a municipality is 6 mills and the tax rate for an industrial property is 1.50
Question 1- The mill rate of a residential property in a municipality is 6 mills and the tax rate for an industrial property is 1.50 times that of residential properties.
a. Calculate the property tax for a residential property assessed at $332,500.
Round to the nearest cent
b. Calculate the property tax for an industrial property assessed at $548,000.
Question 2- Kenneth was shocked to learn that a restaurant charged him a tax of $35.75 on a meal with his family. The manager explained to him that the restaurant charges 13% HST on the amount as per the rules of the province of Ontario.
a. Calculate the cost of the meal before taxes.
b. Calculate the total cost of the meal including HST.
Question 3- After a discount of 12 1/2% , a publishing company purchased an offset printing press for $263,000.
What was the original price of the machine?
Question 4- Marcus works for a clothing boutique store as a salesperson. He receives a monthly base salary of $900 and earns a commission on sales over $28,000. If he earned $4,200 last month and he made $140,000 in sales, calculate his commission rate.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started