The original price of an item was $146. Given that the total price with tax was $156.45, determine the amount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent). Be sure to clearly show your work on your paper! Tax amount: S Tax rate:
The original price of an item was $146. Given that the total price with tax was $156.45, determine the amount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent). Be sure to clearly show your work on your paper! Tax amount: S Tax rate:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:The original price of an item was $146. Given that the total price with tax was $156.45, determine the
amount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent).
Be sure to clearly show your work on your paper!
Tax amount: $
Tax rate:
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