suppose that the local sales tax rate is 3% and you purchase a car for $25,300. a. how much tax is paid? b…

suppose that the local sales tax rate is 3% and you purchase a car for $25,300. a. how much tax is paid? b. what is the cars total cost? a. the amount of tax paid is $

suppose that the local sales tax rate is 3% and you purchase a car for $25,300. a. how much tax is paid? b. what is the cars total cost? a. the amount of tax paid is $

Answer

Explanation:

Step1: Calculate tax amount

Tax amount = Purchase price × Tax rate. Given purchase price = $25300$ and tax rate = $3%=0.03$. So, tax amount = $25300\times0.03$. $25300\times0.03 = 759$

Step2: Calculate total cost

Total cost = Purchase price+ Tax amount. Purchase price is $25300$ and tax amount is $759$. So, total cost = $25300 + 759$. $25300+759=26059$

Answer:

a. $759$ b. $26059$