Total Purchase Price pp SECTION

Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 2 of Section Objective Calculate: total purchase price

Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 3 of sales receipt (p. 234) Proof of purchase of a good or service from a store. total purchase price (p. 234) The selling price of an item plus the sales tax. Key Words to Know

Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 4 of Total Purchase Price = Total Selling Price + Sales Tax Formula

Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 5 of What does your state do with sales tax money it collects? Sifting through the Gently Used p. 234

Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 6 of A store in Madison, Wisconsin, advertised a smoke alarm for $24.95 and a fire extinguisher for $ What is the sales tax if the combined state and city rate is 6 percent? What is the total purchase price? Example 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 7 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 7 of Find the total selling price. $ $39.95 = $64.90 Example 1 Answer: Step 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 8 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 8 of Find the sales tax. Total Selling Price × Sales Tax Rate $64.90 × 0.06 = = $3.89 Example 1 Answer: Step 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 9 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 9 of Find the total purchase price. Total Selling Price + Sales Tax $ $3.89 = $68.79 Example 1 Answer: Step 3

Click to edit Master text styles Second level Third level Fourth level Fifth level 10 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 10 of Clayton Young buys 4 packages of alkaline batteries for $1.99 each, a bottle of sunscreen for $5.96, 2 boxes of adhesive bandages for $2.56 each, and a tube of toothpaste for $1.76. The combined state and city sales tax rate is 5.25 percent. What is the total purchase price? Practice 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 11 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 11 of $21.89 Practice 1 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 12 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 12 of Ethan Campbell bought 3 pairs of dress pants for $34.99 each, 4 dress shirts for $29.99 each, and 2 ties for $19.99 each. The combined state, county, and city sales tax is 7 percent. What is the total purchase price? Practice 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 13 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-2, Slide 13 of $ Practice 2 Answer

Total Purchase Price 6-2 END OF SECTION