The Sales Tax , in Dollars, I Have to Pay

question 34

Multiple Choice

The sales tax , in dollars, I have to pay when I buy dollars worth of merchandise is given by . ​
If I decide to buy $44 more in merchandise, how much additional sales tax will I have to pay?

• A) $3.96
• B) $4.76
• C) $0.72
• D) $0.09

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Definitions:

CAC 40 Index

A benchmark French stock market index that represents the 40 largest equities listed in France, measuring their performance.

Toronto 35 Index

An index that was once used to represent the performance of the 35 most significant stocks listed on the Toronto Stock Exchange.

Basis

In finance, refers to the difference between the spot price of an asset and its future price, or to the initial value used for tax purposes.

Futures Price

The agreed-upon price for the purchase or sale of an asset at a future date in a futures contract.