Real Estate Math (alternative)
A Maryland property is assessed at $420,000. The tax rate is $1.15 per $100. Taxes are paid semiannually. Each semiannual payment is:
A$2,415✓ Correct
B$2,940
C$3,456
D$4,830
Explanation
Annual tax = $420,000 ÷ 100 × $1.15 = 4,200 × $1.
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