A product used to have a price of $20.50. Its price was then increased by 2%. Additionally, a 7% tax is added when the product is purchased. What is the total cost, including tax, of purchasing the product?

In this question, we're trying to find the final price of the product.

We know that the original price was $20.50

However, the product increased by 2%

And we also know that a 7% tax rate was applied to the cost.

First, we need to find the increased price of the product. To find this, we would need to multiply 20.50 by 1.02:

20.50 · 1.02 = 20.91‬

Now, we know tax was applied to the increase price, so multiply 20.91‬ by 1.07

20.91‬ · 1.07 = 22.3737

Round the nearest hundredths:

$22.37

This means that the total cost of the product was $22.37

Answer:

$22.37

21.4963

Step-by-step explanation:2% of 20.5 is. 41

20.5 -.41 = 20.09

7% is 1.4063 add it is is 21.4963