Question

Find the sales tax and total sale.Item marked price Sales tax rate Sales tax Total sales$594.47 4.874%Item marked price Sales tax rate Sales tax$594.474.874% s!(Round to the nearest cent.) ATotal sale$

Answer 1

We have to calculate the sales tax and total sales.

We know the item marked price ($594.47) and the sales tax rate (4.874%).

We can start by calculating the sales tax as the item marked price times the sales tax rate (expressed in decimal form):

`\begin{gathered} ST=MP\cdot r \\ ST=594.47\cdot(4.874)/(100) \\ ST=594.47\cdot0.04874 \\ ST\approx28.97 \end{gathered}`

We now can calculate the total sales as the sum of the item marked price and the sales tax:

`\begin{gathered} TS=MP+ST \\ TS=594.47+28.97 \\ TS=623.44 \end{gathered}`

Answer:

Sales tax = $28.97

Total sales = $623.44