Answer:
<em>Python code is as follows:
</em>
********************************************************************************
#function to get number up to any number of decimal places
def toFixed(value, digits):
return "%.*f" % (digits, value)
print("Enter the price: ", end='', flush=True) #prompt for the input of price
price = float(input()) #taken input
totalCost = price + 0.05 * price #calculating cost
print("Total Cost after the sales tax of 5% is applied: " + toFixed(totalCost,2)) #print and output totalCost
************************************************************************************