Question

using a 7% sales tax find the sales tax amount for each amount spent, round to the nearest penny
you spent 5.00 with a 7% tax rate, how much did you spend with sales tax included

Answer 1

To calculate the sales tax amount for an expenditure of $5.00 at a 7% sales tax rate, you can use the formula:

\[
\text{Sales Tax} = \text{Amount Spent} \times \text{Tax Rate}
\]

Plugging in the values:

\[
\text{Sales Tax} = 5.00 \times 0.07 = 0.35
\]

So, the sales tax amount is $0.35.

Now, to find the total amount spent including sales tax:

\[
\text{Total Amount} = \text{Amount Spent} + \text{Sales Tax}
\]

\[
\text{Total Amount} = 5.00 + 0.35 = 5.35
\]

Therefore, you spent a total of **$5.35** including sales tax.