Sure, let's break it down step by step:
1. Identify the cost of the stereo:
The initial cost of the stereo is \[tex]$200.
2. Determine the tax rate:
The tax rate is given as 8%, which can be written as a decimal (0.08).
3. Calculate the amount of tax:
To find the tax amount, multiply the cost of the stereo by the tax rate:
\[\text{Tax Amount} = \$[/tex]200 \times 0.08 = \[tex]$16.00\]
4. Calculate the total price of the stereo:
To find the total price, add the tax amount to the initial cost of the stereo:
\[\text{Total Price} = \$[/tex]200 + \[tex]$16.00 = \$[/tex]216.00\]
So, the total price of the stereo, including the tax, is \[tex]$216.00, and the tax amount is \$[/tex]16.00.
