an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use…

an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for.\n$?\nround to the nearest cent.

an item costs a store $12 from the manufacturer. the store plans to mark up the item at 70% of the cost. use this information to calculate the sticker price the store should sell the item for.\n$?\nround to the nearest cent.

Answer

Explanation:

Step1: Calculate the markup amount

The markup is 70% of the cost. The cost is $12. So the markup amount $m$ is $m = 0.7\times12$. $m=0.7\times12 = 8.4$

Step2: Calculate the sticker - price

The sticker - price $p$ is the sum of the cost and the markup. So $p=12 + m$. $p=12+8.4=20.4$

Answer:

$20.40$