the sales tax rate is 7%. if lucy buys a treadmill priced at $538.00, how much tax will she pay?
the sales tax rate is 7%. if lucy buys a treadmill priced at $538.00, how much tax will she pay?
Answer
Explanation:
Step1: Convert percentage to decimal
To find the tax amount, we first convert the 7% sales - tax rate to a decimal. We do this by dividing 7 by 100. So, $7%=\frac{7}{100}=0.07$.
Step2: Calculate the tax amount
We multiply the price of the treadmill ($538) by the tax - rate (0.07). The formula is $Tax\ amount = Price\times Tax\ rate$. So, $538\times0.07 = 37.66$.
Answer:
$37.66$