Slovek Co. operates in a county that has enacted a 7% sales tax on retail sales. During Slovek collected $26,000 from customers. This amount includes sales proceeds and sal tax. How much sales tax is included in the amount collected? O $26,000*.07 O $26,000-.93 S26,000/1.07 S26,000/1.07*.07 O None of the above

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
icon
Related questions
Question
Slovek Co. operates in a county that has enacted a 7% sales tax on retail sales. During July,
Slovek collected $26,000 from customers. This amount includes sales proceeds and sales
tax. How much sales tax is included in the amount collected?
O $26,000*.07
O $26,000-.93
O $26,000/1.07
O S26,000/1.07*.07
None of the above
Transcribed Image Text:Slovek Co. operates in a county that has enacted a 7% sales tax on retail sales. During July, Slovek collected $26,000 from customers. This amount includes sales proceeds and sales tax. How much sales tax is included in the amount collected? O $26,000*.07 O $26,000-.93 O $26,000/1.07 O S26,000/1.07*.07 None of the above
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL