Answer: 14400
Chances are your teacher doesn't want you to enter any commas. You won't type in the dollar sign either.
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Explanation:
Nice work on selecting the correct equation to set up.
We'll cross multiply to help solve for x.
The idea of cross multiplication is that [tex]\frac{A}{B} = \frac{C}{D}[/tex] turns into [tex]A*D = B*C[/tex]
So,
[tex]\frac{5040}{280000} = \frac{x}{800000}\\\\5040*800000 = 280,000*x\\\\4,032,000,000 = 280,000x\\\\280000x = 4,032,000,000\\\\x = \frac{4,032,000,000}{280,000}\\\\x = 14,400\\\\[/tex]
That means the person would pay $14,400 on a property worth $800,000.
