1. Sales Tax pp. 232-233 6-1 SECTION

2. Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 2 of 13 6-1 sales tax (p. 232) A tax charged by most states on the selling price of a good or service, usually expressed as a percent. Key Words to Know

3. Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 3 of 13 6-1 Sales Tax = Total Selling Price × Sales Tax Rate Formula

4. Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 4 of 13 6-1 Bill Engvalle bought a camera that had a selling price of $129.99 and a pack of film that had a selling price of $18.95. What is the sales tax on his purchases if he lives in Connecticut, where the sales tax rate is 6 percent? Example 1

5. Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 5 of 13 6-1 Find the total selling price. $129.99 + $18.85 = $148.94 Example 1 Answer: Step 1

6. Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 6 of 13 6-1 Find the sales tax. Total Selling Price × Sales Tax Rate $148.94 × 6% $148.94 × 0.06 = 8.9364 = $8.94 sales tax Example 1 Answer: Step 2

7. 232-233: #1-27