Li deposited $17,500 into a bank account that earned simple interest each year. After 2 years, he had earned $2975 in interest.
1 answer:
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So first we need to find the total before tax. Let's add up the two prices:
So we know that the total before tax is $381. Now we are told that the sales tax on these items is 6.5%. It would be easier for us to convert 6.5% to a decimal in order to multiply. Let's convert 6.5% to a decimal by dividing by 100:
Now that we have the sales tax in decimal form, let's multiply this sales tax by the total amount of the items before tax ($381):
This means that $24.77 is the tax for this purchase. To find the total amount that Jon paid for these items after tax, you must add the tax to the total amount before tax to give you:
So now we know that Jon's total bill for these items is $405.77.
So we know that the total before tax is $381. Now we are told that the sales tax on these items is 6.5%. It would be easier for us to convert 6.5% to a decimal in order to multiply. Let's convert 6.5% to a decimal by dividing by 100:
Now that we have the sales tax in decimal form, let's multiply this sales tax by the total amount of the items before tax ($381):
This means that $24.77 is the tax for this purchase. To find the total amount that Jon paid for these items after tax, you must add the tax to the total amount before tax to give you:
So now we know that Jon's total bill for these items is $405.77.