Question

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%.

Answer 1

$20,860.00

$208.60

$29,800.00

$298.00

Answer 2

0.2% * 149000 = 298.

Answer 3

cant say i know what an intangible tax relates to :/

Answer 4

but do you think my answer might be right ?

Answer 5

well, it does look like one of the options ... but then I got no idea what the correct option may be

Answer 6

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.

Answer 7

a house is not an intangible object ... whichis why this doesnt really make sense for me

Answer 8

if we do it on the value of the loan .. minus the down payment, we get 208

Answer 9

so my choice is correct ?

Answer 10

do I do something with the 30% ?

Answer 11

youll have to look in your material to see how it defines an intangible tax ... i got no sure idea about it

Answer 12

im going with the balance ... which is the amount after the 30% down payment

Answer 13

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

Answer 14

its 298 if you do the house selling price

its 208 if you just do the balance of the loan itself

Answer 15

I dont know which one too choose o.O

Answer 16

http://www.titleprosflorida.com/index_files/trfl.htm

Answer 17

Alright so 208.60 is the right choice ?

Answer 18

im not saying its right, but its the one id choose

Answer 19

Truuue thanks tho for the help man

Answer 20

good luck