Question

Round the answer to the nearest cent. 5% tax on $20 is $

Answer 1

5% tax on 20 dollars.
First let's convert 5% to decimal
=> 5% / 100 = .05
Next is to simply multiple 0.05 to 20 dollars
=> 20 * .05 = 1 dollar.
Thus. the 5% of 20 dollars is 1 dollar.