Toby buys a new MP3 player for a price of $45.50. What is the total amount his credit card is charged if the sales tax is 7%?
To calculate the total amount charged to Toby's credit card, you need to add the sales tax to the original price of the MP3 player.
To find the amount of sales tax, you can use the formula:
Sales tax = (Tax rate * Price)
First, calculate the sales tax by multiplying the tax rate (7%) by the price of the MP3 player ($45.50):
Sales tax = 0.07 * $45.50
Next, multiply the sales tax by the price:
Sales tax = $3.185
Finally, add the sales tax to the price of the MP3 player:
Total amount charged = $45.50 + $3.185
Therefore, the total amount Toby's credit card is charged is $48.685.