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A bicycle has a listed price of $521.99 before tax. If the sales tax rate is 7.5%, find the total cost of the bicycle with sales tax included.Round your answer to the nearest cent, as necessary.

Sagot :

Total cost of the bicycle with sales tax included = $561.14

STEP - BY - STEP EXPLANATION

What to find?

The total cost of the bicycle with sales tax included.

Given:

Price of bicycle before tax = $521.99

Tax rate = 7.5%

To solve the given problrm, we will follow the steps below:

Step 1

Calculate the amount of the tax rate.

[tex]\text{amount of tax rate =}\frac{7.5}{100}\times521.99[/tex][tex]=\frac{3914.925}{100}[/tex][tex]=39.14925[/tex]

Step 2

Add the amount of tax obtained in step 1 to the price of bicycle before tax.

[tex]\text{Total tax =price of bicycle before tax+tax}[/tex][tex]=521.99+39.14925[/tex][tex]\approx561.14[/tex]

Therefore, the total cost of the bicycle with sales tax included is $561.14