Final answer:
To calculate the total cost of a bicycle with the listed price of $537.95 and a 9.5% sales tax rate, first convert the tax rate to a decimal (0.095), multiply by the price to find the tax amount ($51.11), and finally add the tax to the listed price to get the total of $589.06.
Step-by-step explanation:
To find the total cost of the bicycle with sales tax included, you need to calculate the amount of sales tax and then add it to the listed price. The sales tax can be found by converting the sales tax rate from a percent to a decimal and multiplying it by the price of the bicycle. In your case, the listed price is $537.95, and the sales tax rate is 9.5%.
First, convert the sales tax rate to a decimal:
9.5% = 9.5 ÷ 100 = 0.095
Next, calculate the amount of sales tax:
$537.95 × 0.095 = $51.10525
Round the sales tax to the nearest cent. The sales tax is therefore $51.11.
Finally, add the sales tax to the listed price to get the total cost:
$537.95 + $51.11 = $589.06
The total cost of the bicycle with sales tax is $589.06.