Quiz 9.5-9.7 - Quiz 9.5-9.7 Money Management Name...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Quiz 9.5-9.7 Name:___________________________ Money Management Date:________________Period:______ SHOW ALL WORK!! 1. The Smiths’ home is located in a community where the rate of assessment is 35% of the market value. The tax is $75 per $1000 of assessed value. The Smiths’ home has a market value of $145,000. What is the assessed value? _______________ What is the yearly real estate tax? _______________ 2. The rate of assessment in Wayne County is 45%. The tax rate is 75.23 mills. What is the real estate tax on a piece of property that has a market value of $45,600? _______________ 3. You live in a home in Bunker County. Your home has a market value of $155,000. Your rate of assessment is 40%. You pay total property taxes of 56.79 mills. Complete the form below to see how your property tax bill is distributed. (Do not show work) 4 5 4. The Perrys’ have insured their home 90% of its replacement value of $150,000. Their personal property coverage is 50% of the amount of their home coverage, personal liability coverage is 35% , and loss of use coverage is 15%. What is the amount of coverage for personal liability? ___________________ What is the amount of coverage for personal property?
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern