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Chapter 6: Problem 5

Your new car cost \(\$ 22,500\). The state sales tax rate is \(8 \%\). How much sales tax will you be paying on the car purchase?

Short Answer

Expert verified
Answer: The sales tax amount to be paid on the car purchase is $1,800.

Step by step solution

01

Identify the given values

The cost of the car is given as \(\$ 22,500\), and the state sales tax rate is \(8 \%\).
02

Convert the sales tax percentage into the decimal form

To convert the sales tax rate of \(8 \%\) to its decimal equivalent, simply divide it by \(100\). \[8 \% = \frac{8}{100} = 0.08\]
03

Multiply the car cost with the sales tax rate in decimal form

Now, to find the sales tax amount, multiply the car cost by the sales tax rate in decimal form: \[Sales~Tax~Amount = Car~Cost \times Sales~Tax~Rate\] \[Sales~Tax~Amount = \$ 22,500 \times 0.08\]
04

Calculate the sales tax amount

Perform the calculation from Step 3: \[Sales~Tax~Amount = \$ 22,500 \times 0.08 = \$ 1,800\] Therefore, the sales tax you will be paying on the car purchase is \(\$ 1,800\).

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