you purchase a bicycle with a retail (pre-tax) price of $760. the local sales tax rate is 7.6%. what is the final cost
760 * 1.076 = ?
To calculate the final cost of the bicycle, you need to consider the retail price and the sales tax rate. Here's the step-by-step process to get the answer:
Step 1: Calculate the sales tax amount.
To find the sales tax amount, multiply the retail price by the sales tax rate (as a decimal).
Sales Tax Amount = Retail Price * Sales Tax Rate
In this case, the retail price is $760, and the sales tax rate is 7.6% or 0.076 (as a decimal).
Sales Tax Amount = $760 * 0.076
Step 2: Calculate the final cost.
The final cost includes both the retail price and the sales tax amount.
Final Cost = Retail Price + Sales Tax Amount
Final Cost = $760 + (Sales Tax Amount from Step 1)
Now, let's calculate the sales tax amount and find the final cost of the bicycle:
Sales Tax Amount = $760 * 0.076 = $57.76
Final Cost = $760 + $57.76 = $817.76
Therefore, the final cost of the bicycle, including sales tax, is $817.76.
To calculate the final cost, you need to take into account the sales tax. Here's how you can calculate it step-by-step:
Step 1: Determine the sales tax amount
Multiply the pre-tax price by the sales tax rate in decimal form (7.6% = 0.076):
Sales Tax Amount = $760 * 0.076
Step 2: Calculate the final cost
Add the sales tax amount to the pre-tax price:
Final Cost = Pre-tax Price + Sales Tax Amount
Therefore, the final cost of the bicycle would be:
Final Cost = $760 + ($760 * 0.076)
Final Cost = $760 + $57.76
Final Cost = $817.76
So, the final cost of the bicycle, including the sales tax, would be $817.76.