Manshuk The original price of an item was $146. Given that the total price with tax was $156.45, determine theamount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent).Be sure to clearly show your work on your paper!Tax amount: $Tax rate:

Original Price after tax = op = $146Total Price Before Tax = tp = $156.45

Answered: The original price of an item was $146.…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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The original price of an item was $146. Given that the total price with tax was $156.45, determine the amount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent). Be sure to clearly show your work on your paper! Tax amount: S Tax rate: