a bicycle has a listed price of $647.98 before tax. if the sales - tax rate is 6.75%, find the total cost of…

a bicycle has a listed price of $647.98 before tax. if the sales - tax rate is 6.75%, find the total cost of the bicycle with sales tax included. round your answer to the nearest cent, as necessary.

a bicycle has a listed price of $647.98 before tax. if the sales - tax rate is 6.75%, find the total cost of the bicycle with sales tax included. round your answer to the nearest cent, as necessary.

Answer

Explanation:

Step1: Convert the tax rate to decimal

The sales - tax rate is $6.75%$. To use it in calculations, we convert it to a decimal by dividing by 100. So, $6.75%=\frac{6.75}{100}=0.0675$.

Step2: Calculate the amount of sales tax

The price of the bicycle before tax is $p = 647.98$. The amount of sales tax $t$ is found by multiplying the pre - tax price by the tax rate. So, $t=p\times r=647.98\times0.0675$. $t = 647.98\times0.0675=43.73865$.

Step3: Calculate the total cost

The total cost $C$ of the bicycle is the sum of the pre - tax price and the sales tax. So, $C=p + t=647.98+43.73865$. $C=691.71865\approx691.72$.

Answer:

$691.72$