In a certain development, the houses sell for 250,000 . They are located on both sides of a street which is the boundary line between Amber City and Bradley City. Amber City assesses at 40 of market value and has a tax rate of 3.60 per 100 . Bradley City assesses at 50 of market value and has a tax rate of 2.98 per 100 . Determine which side of the street a buyer would have lower taxes, and by how much.
Question 2
An investor bought an 8 bond at 110 . The bond would mature in 8 years. Compute the rate of yield to maturity. (Do not consider commission. Round answer to two decimal places.)
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