Stevie bought a stereo for $220 and put it on sale at his store at a 70% markup rate. What was the retail price of the stereo?

220 + 0.7(220) = ?

374 To find the retail price of the stereo, we need to consider the markup rate and the original cost.

Step 1: Calculate the markup amount.
Markup amount = Original cost x Markup rate

In this case, the original cost is $220 and the markup rate is 70%.

Markup amount = $220 x 70%
= $220 x (70/100)
= $220 x 0.7
= $154

Step 2: Add the markup amount to the original cost to find the retail price.
Retail price = Original cost + Markup amount

Retail price = $220 + $154
= $374

Therefore, the retail price of the stereo is $374.