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The percent change is the increase or decrease in the value of a quantity. If the new value is larger than the original value then it is a percent increase and if the change in value is lesser than the original value it is called percentage decrease.

Sales tax is a tax that is added to the price of the item the final price is called selling price. It is a percent of the increase in the cost.

We are given the following price and the tax percentages:

Magazine: $3.50

tax: 5.75%

The tax is 5.75% of the price. We will add this amount to the original price.

So If x represents the new price after adding taxes then we have:

$\begin{array}{l}x=5.75\%\text{ofCost+Cost}\\ x=5.75\%×\$3.50+\$3.50\\ x=\frac{5.75}{100}×3.50+3.50\\ x=0.0575×3.50+3.50\\ x=0.2012+3.50\\ x=\$3.7012\end{array}$

Thus, the total cost of a magazine is $3.7012.