Calculate the Missing Information, Rounding Dollars to the Nearest Cent

question 7

Short Answer

Calculate the missing information, rounding dollars to the nearest cent and percents to the nearest tenth percent: $\begin{array}{c}\begin{array}{lll}\\\underline{\text {Item}}\\\text { Raincoat }\end{array}\begin{array}{lll}\\\underline{\text {Cost}}\\\\\end{array}\begin{array}{lll}\\\underline{\text {Markup}}\\\$12.50\end{array}\begin{array}{lll}\text {Amount of}\\\underline{\text {Selling Price}}\\\$75.00\end{array}\begin{array}{lll}\text {Percent Markup}\\\underline{\text {Based on Cost}}\\\\\end{array}\end{array}$

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Definitions:

Government Agencies

Organizations established by a government to carry out specific government functions.

Small Businesses

Enterprises with a small number of employees and relatively low volume of sales.

Horizontal Merger

Merger that joins firms in the same industry for the purpose of diversification, increasing customer bases, cutting costs, or expanding product lines.