the tax rate as a percent, r, charged on an item can be determined using the formula $\frac{c}{p}-1 = r$…

the tax rate as a percent, r, charged on an item can be determined using the formula $\frac{c}{p}-1 = r$, where c is the final cost of the item and p is the price of the item before tax. louise rewrites the equation to solve for the final cost of the item: c = p(1 + r). what is the final cost of a $40 item after an 8% tax is applied?

the tax rate as a percent, r, charged on an item can be determined using the formula $\frac{c}{p}-1 = r$, where c is the final cost of the item and p is the price of the item before tax. louise rewrites the equation to solve for the final cost of the item: c = p(1 + r). what is the final cost of a $40 item after an 8% tax is applied?

Answer

Explanation:

Step1: Identify values

Given $p = 40$ and $r=0.08$ (since 8% = 0.08).

Step2: Substitute values into formula

Substitute into $c = p(1 + r)$, so $c=40\times(1 + 0.08)$.

Step3: Calculate result

$c = 40\times1.08=43.2$.

Answer:

$43.2$