Question

A camera has a listed price of $503.99 before tax. If the sales tax rate is 6.25% , find the total cost of the camera with sales tax included.

Round your answer to the nearest cent, as necessary.

Answer 1

Answer: $535.49

Explanation:

We will add the sales tax onto 100% of the listed price, giving us that the total cost of this camera is 106.25% after sales tax. Keeping in mind that a percent divided by 100 becomes a decimal, we can calculate the total cost. Then, we will round to the nearest cent by rounding to the hundreths place.

$503.99 * (106.25% / 100) = $503.99 * 1.0625 = $535.489375 ≈ $535.49