Principal, P= 4000
interest = 6%/4 = 0.015 (per quarter)
Number of periods, n = 5*4 =20 quarters
Compound interest formula:
Future value:



to the nearest cent.
Answer:
Before Tax Price: $32,800.00
Sale Tax: 6.00% or $1,968.00
After Tax Price: $34,768.00
Step-by-step explanation:
- Take the precentage of tax and turn it into a decimal
- Multiply sales tax decimal with the purchased price (Purchase Price x Sales Tax
- Get your answer