Question

Calculate the total cost of an item bought at a negotiated price of $17,250 with 7.7 percent sales tax and a $95 registration fee.

$17,250

$17,376.75

$18,673.25

$18,578.25

Answer 1

C. $18673.25

Step-by-step explanation:

Let us find cost of item after 7.7% of sales tax. The price after 7.7% of sales tax will be 17250 plus 7.7% of 17250.

`\text{The cost of item after sales tax}=17250+((7.7)/(100)* 17250)`

`\text{The cost of item after sales tax}=17250+(0.077* 17250)`

`\text{The cost of item after sales tax}=17250+1328.25`

`\text{The cost of item after sales tax}=18578.25`

Therefore, the cost of item after 7.7% of sales tax will be $18578.25.

To find the total cost of item let us add registration fee ($95) to $18578.25

`\text{The total cost of item}=18578.25+95`

`\text{The total cost of item}=18673.25`

Therefore, the total cost of item is $18673.25 and option C is the correct choice.