Question

1. use your tax owed from problem 3 to determine if you would have a tax balance or a tax refund if $14,525.65 was withheld from your paychecks for fede taxes. how much is the tax balance or tax refund?
2. use the assessment rate and the property tax rate of the house chosen in problem 1 to find the effective tax rate. round to three places.

use the following scenario to answer questions 7 and 8.
you and your significant other start looking into investing some of the extra money you have left over into the stock market. you have heard there is a new tech company that would be worth investing in, so you decide to look up their stock prices. the tech company’s stock closed at $12.20. the next day, the stock goes up $1.68.

1. what is the new price of the stock?
2. what is the percent increase of the stock?
3. the tech company seemed to be a good investment, so you purchased 75 shares of stock. the company pays a dividend of $0.68 per share. what is your total dividend?

Explanation:

Question 7

Step1: Identify initial and increase

Initial price = $12.20, Increase = $1.68

Step2: Add to find new price

New price = Initial price + Increase = $12.20 + $1.68 = $13.88

Step1: Recall percent increase formula

Percent increase = $\frac{\text{Increase}}{\text{Original Price}} \times 100\%$

Step2: Substitute values

Increase = $1.68, Original Price = $12.20
Percent increase = $\frac{1.68}{12.20} \times 100\% \approx 13.770\%$ (rounded to three decimal places in the percentage calculation, or three places as a decimal: ~0.1377, but as a percent, ~13.770%)

Step1: Recall total dividend formula

Total dividend = Number of shares × Dividend per share

Step2: Substitute values

Number of shares = 75, Dividend per share = $0.68
Total dividend = 75 × $0.68 = $51.00

Answer:

$13.88

Question 8