rate = 8.12/115.99 = .070006035
but since the $8.12 was most likely rounded off to the nearest cent, I would say it was .07 or 7%
so y = .07x
so when x = 530.50
y = .07(530.50) = $37.14
y =
Use the model to find the sales tax on a $530.50 purchase. (Round your answer to the nearest cent.)
$
but since the $8.12 was most likely rounded off to the nearest cent, I would say it was .07 or 7%
so y = .07x
so when x = 530.50
y = .07(530.50) = $37.14
From the given information, we know that an item that sells for $115.99 has a sales tax of $8.12. This means that the sales tax is a certain percentage of the retail price.
Let's consider the sales tax as a percentage of the retail price. We can represent this percentage as a decimal value, t.
Therefore, the amount of sales tax y can be expressed as:
y = t * x
To find the value of t, we can use the given information.
From the given information, we know that an item selling for $115.99 has a sales tax of $8.12.
So, we can set up the following equation:
8.12 = t * 115.99
Solving for t:
t = 8.12 / 115.99 ≈ 0.07005
Now we can substitute this value of t into our equation for y:
y = 0.07005 * x
Rounding the coefficient to two decimal places, the mathematical model that gives the amount of sales tax y in terms of the retail price x is:
y = 0.07 * x
To find the sales tax on a $530.50 purchase, we substitute x = 530.50 into the equation:
y = 0.07 * 530.50 ≈ $37.14
Therefore, the sales tax on a $530.50 purchase is approximately $37.14.
The problem states that an item that sells for $115.99 has a sales tax of $8.12. We can write this as:
115.99 * k = 8.12
Where k is the constant of proportionality. To find the value of k, we can divide both sides of the equation by 115.99:
k = 8.12 / 115.99
k ≈ 0.07006 (rounded to five decimal places)
Now we can use this value of k to write the mathematical model that gives the amount of sales tax y in terms of the retail price x:
y = kx
Substituting the value of k, we have:
y = 0.07006x
To find the sales tax on a $530.50 purchase, we can substitute x = 530.50 into the model:
y = 0.07006(530.50)
y ≈ $37.15 (rounded to the nearest cent)
Therefore, the sales tax on a $530.50 purchase would be approximately $37.15.