Question

Brady has purchased a home for $299,000. He made a 20% down payment and financed the remaining amount. The intangible tax is 0.2%. Which of the following is the total amount of the intangible tax? (2 points)
a
$478.40
b
$598.00
c
$47,840.00
d
$59,800.00

Answer 1

Answer:

$478.4 ( A )

Step-by-step explanation:

299,000/100 x 20 = 59,800

                               = 299,000 - 59,800

                               = 239,200/100 x 0.2

                               = 478.4