On january 11, frank morgan spent $228 on taxable merchandise at wesley's discount clothing. the combined state and local sales tax rate is 5.25%. calculate the total amount the customer must pay. round your answer to the nearest cent.

Customer must pay a Total Amount of $240.

Step-by-step explanation:

Given:

Amount spent = $228

Sales tax = 5.25%

We need to find the Total Amount which need to be paid.

First we will find the amount paid in tax.

Amount paid in tax is equal to Percentage of sales tax multiplied with Amount spent and then divide by 100.

Framing the equation we get;

Amount paid in tax =

Now Total Amount which need to be paid is equal to sum of Amount spent and Amount paid in tax.

Framing in equation form we get;

Total Amount which need to be paid =

Rounding to nearest cent we get;

Total Amount which need to be paid = $240

Hence, Customer must pay a Total Amount of $240.

one fourth of 9% = 2.25%

gavin is correct in saying : the equivalent quarterly interest rate would be

2.25%.