The sales cost of a 2021 Tacoma is $37,280. What is the tax amount and sales cost of the Tacoma if the NC sales tax rate on vehicles is 3%?
Hello I’m a junior in highschool?
To calculate the tax amount on the sales cost of the Tacoma, you need to multiply the sales cost by the sales tax rate. Here's how you can find the tax amount:
1. First, convert the sales tax rate from a percentage to a decimal. The sales tax rate of 3% can be expressed as 0.03.
2. Next, multiply the sales cost by the sales tax rate. In this case, multiply $37,280 by 0.03:
Tax amount = $37,280 * 0.03
By performing the calculation, you can determine the tax amount.