Find the Sales Tax and Total Cost of an Item

question 15

Short Answer

Find the sales tax and total cost of an item that costs $159.95 if the tax rate is 5.5%.

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Definitions:

Character

In finance, character often refers to the qualitative assessment of a borrower's integrity and history in meeting debt obligations, used in credit analysis.

Capacity

The maximum amount that something can contain or produce, often used in the context of production and manufacturing facilities.

Gross Profit

The difference between revenue and the cost of goods sold before accounting for certain other costs.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term liquidity of a business.