Question

The sales tax in the city of Taxemalot is 8.1%. What is the growth factor for any item purchased at your local Tarmart?

a.8.1

c.1.081

b.0.81

d.81

Answer 1

The growth factor is simply the multiplier you multiply the initial cost by

for example, say the item is $1000

you would multiply the growth factor by 1000 to get the total amount you pay (with taxes included)

Answer 2

you find the growth rate by using the formula 1 + r

r = tax rate (as a decimal)

Answer 3

Ahh i see, thank you. The lecture thing that instructed me did not mention anything of the sort

Answer 4

you're welcome

Answer 5

it would be B right, i had originally thought at. As it is a decimal of its amount?

Answer 6

1 + r = 1 + 0.081 = 1.081, correct

Answer 7

so if the item initially costs $1000, then

1000*1.081 = 1081

is the final cost (with taxes)

Answer 8

Ty again that makes much more sense. This is actually the easier side of my class but none of the online lectures explain how things work, left to my own accords lol

Answer 9

sure thing