Question

You purchase 5 CDs for $9.95 each. The sales tax is 7%. You have $60.00. How much is your change?
(1 point)
Responses

$6.77
$6.77

$21.30
$21.30

$49.35
$49.35

$10.77

Answer 1

To calculate the total cost of the 5 CDs including sales tax, follow these steps:

1. Calculate the total cost of the CDs before tax:
\[
\text{Total cost before tax} = \text{Price per CD} \times \text{Number of CDs} = 9.95 \times 5 = 49.75
\]

2. Calculate the sales tax:
\[
\text{Sales tax} = \text{Total cost before tax} \times \text{Sales tax rate} = 49.75 \times 0.07 = 3.4825
\]

Round this to two decimal places:
\[
\text{Sales tax} \approx 3.48
\]

3. Calculate the total cost including sales tax:
\[
\text{Total cost} = \text{Total cost before tax} + \text{Sales tax} = 49.75 + 3.48 = 53.23
\]

4. Determine how much money you have and calculate the change:
\[
\text{Change} = \text{Total amount given} - \text{Total cost} = 60.00 - 53.23 = 6.77
\]

Therefore, your change will be **$6.77**.