Buying a toaster requires an insurance plan that is 20% of the MSRP, plus a mandatory state tax rate of 50% after the insurance plan calculation. Jon chooses to buy a toaster that costs $30 at MSRP. What is the total he must pay?
How much is the insurance plan? ** The insurance plan costs $30*0.2=$<<30*0.2=6>>6.
What is the total before the state tax? ** The pre-state tax total is $30+$6=$<<30+6=36>>36.
How much is the state tax? ** State tax will be $36*0.5=$<<36*0.5=18>>18.
What is the total he must pay? ** Jon needs to pay $18+$36=$<<18+36=54>>54 for his new toaster.
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