Jack paid $ 23000 for the ring.
<u>Solution:</u>
Given that, Jack Matthew bought a new diamond ring for $20,000
Sales tax is 5% with a 10% excise tax
<em><u>To find: total price including taxes</u></em>
Given that sales tax is 5% of 20,000
Also given that excise tax is 10%
<em>Total price = cost price + sales tax + excise tax</em>
Total price = 20,000 + 1000 + 2000
Total price = 23000
Hence, jack paid $ 23000 for the ring.
