What is the formula to calculate the total cost with sales tax?
Math Modeling Midterm

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•
Mathematics
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Total Cost = Price + (Price * Tax Rate)
2.
FLASHCARD QUESTION
Front
What is the sales tax amount for a price of $50.00 with a tax rate of 8%?
Back
Sales Tax = $50.00 * 0.08 = $4.00
3.
FLASHCARD QUESTION
Front
If an item costs $20.00 and the sales tax is 5%, what is the total cost?
Back
Total Cost = $20.00 + ($20.00 * 0.05) = $21.00
4.
FLASHCARD QUESTION
Front
What does the term 'Check Number' refer to in a financial document?
Back
The Check Number is a unique identifier assigned to each check for tracking and record-keeping.
5.
FLASHCARD QUESTION
Front
What is the purpose of an 'Account Number' on a check?
Back
The Account Number identifies the specific bank account from which funds will be withdrawn.
6.
FLASHCARD QUESTION
Front
How do you calculate the sales tax for a purchase?
Back
Sales Tax = Price * Tax Rate.
7.
FLASHCARD QUESTION
Front
What is the total cost of an item priced at $15.00 with a 10% sales tax?
Back
Total Cost = $15.00 + ($15.00 * 0.10) = $16.50
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