8
QuizMultiple Choice

Banking: How to Manage Your Money

Question 8 • * HSA 26-27 Economics

If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire?

Answer
A
$6
B
$16
C
$60
D
$600

Explanation

The savings are the Massachusetts sales tax that would be charged on the television. Calculate 6% of $1,000: 0.06 × $1,000 = $60. Since New Hampshire has no sales tax, buying it there saves $60, choice C.

AI-written and checked against the verified answer.

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