Asked by Anisha Anand on Jul 02, 2024
Verified
Daniel James lives in a state having a sales tax rate of 7%. Daniel James crossed the state line into a state having a 4% sales tax rate to make a purchase in the amount of $4,564. Compute the amount Daniel James saved in sales tax by purchasing in the neighboring state.
Sales Tax Rate
The percentage added to the sale price of goods and services, collected by retailers and forwarded to the government.
- Identify how variations in sales tax rates impact the ultimate cost of products in various states.
Verified Answer
LT
Learning Objectives
- Identify how variations in sales tax rates impact the ultimate cost of products in various states.