Find the Total Amount, Including Tax, for an Item with a Price

question 188

Short Answer

Find the total amount, including tax, for an item with a price of $10.50 and a tax rate of 5%. Round your answer to the nearest cent.
$__________

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Definitions:

Robinson-Patman Act

In the United States, a federal statute that disallows any anticompetitive behavior by producers, with an emphasis on the rejection of discriminatory pricing.

Treble Damages

A type of compensation awarded in a lawsuit where the damages are tripled as a punitive measure against the defendant.

Clayton Act

A U.S. antitrust law enacted in 1914, intended to supplement the Sherman Act by addressing specific practices that could lead to monopolies or restrain trade.

Functional Discount

A reduction in price given to channel members for performing specific roles or functions beneficial to the discount grantor.