A tax of $0.05 on every dollar is 5%.
Multiply:
0.05 * 0.15 = 0.0075
0.0075 is rounded up to $0.01 or 1 cent for a 15 cent purchase.
If the retail tax rate is 5 cents for every 1 dollar you spend, how much tax would you pay for a $0.15 item?
5 answers
Your total is $0.16 or 16 cents.
Thank you, I was very confused on how to solve it.
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