Question

If the sales tax rate is 9.75 % in California, then how much would you pay in Los Angeles for a pair of shoes that cost $39.00?

Answer 1

$42.80

Explanation:

First, converting R percent to r a decimal

r = R/100 = 9.75%/100 = 0.0975 per year.

Solving our equation:

A = 39(1 + (0.0975 × 1)) = 42.8025

A = $42.80

The total amount accrued, principal plus interest, from simple interest on a principal of $39.00 at a rate of 9.75% per year for 1 years is $42.80.