Answer:
<em>The tax is $1.54 and the price after tax is $31.54</em>
Step-by-step explanation:
<u>Percentages</u>
The procedure to add a percentage ratio p to a given quantity q is:
* Calculate the increase as i = p*q/100
* Add the increase to the original quantity to get the final quantity f=q + i
It's given the sales tax rate in New Mexico is p=5.125%. A pair of pants in New Mexico costs q=$30 before tax.
* The increase (tax) is i = (5.125*30)/100 = $1.54
* The price after tax is f = $30 + $1.54 = $31.54
The tax is $1.54 and the price after tax is $31.54
Answer: $5,828.28
<u>Step-by-step explanation:</u>
Use the Compound Interest formula: 
where
- A is the accrued amount (balance)
- P is the principal (initial amount invested)
- r is the interest rate (in decimal form)
- n is the number of times compounded each year
- t is the time of the investment (in years)
Given: P = 4,900
r = 3.5% (0.035)
n = 2
t = 5
Answer:
46.6
Step-by-step explanation:
