Answer:
$400
Step-by-step explanation:
To solve this, we need to understand how one reaches the final price. The general formula for final price (with tax) is:
t(c) = p x (1+t)
t(c) is total cost
p is price
t is tax rate as a decimal
To find p, we need to create a new formula. Since we have the total cost ($408) and the tax rate (2% or .02), we can divide the total cost by 1 + the tax rate to solve for the price:
t(c) / (1+t) = p
408 / (1+.02) = $400
I hope this helps!
-TheBusinessMan
