What is the total price of $3.25,$1.10 including 7% tax
3.25 + 1.10 = 4.35
4.35 * 0.07 = 0.3045 = 0.30
4.35 + 0.30 = $4.65
To calculate the total price including tax, you need to add the tax amount to the initial price.
Step 1: Calculate the tax amount:
To find the tax amount, multiply the initial price by the tax rate. In this case, the tax rate is 7%, or 0.07 as a decimal.
Tax amount = $3.25 x 0.07 = $0.2275 (rounded to two decimal places)
Step 2: Add the tax amount to the initial price:
Total price = $3.25 + $0.2275 = $3.4775 (rounded to two decimal places)
Therefore, the total price of $3.25 with a 7% tax rate is $3.48.