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Question

Value-added tax, VAT, is a tax charged on goods and services in European countries. Many European countries offer refunds of some VAT to non-resident based businesses. VAT is included in a price that is quoted. That is, if an item is marked as costing $10, that price includes the VAT. In The Netherlands, foreign businesses are entitled to a refund of 84% of the VAT on automobile rentals. Write a function for the refund an American company could expect r(v) if v represents the VAT amount.

Solution

VerifiedAnswered 2 years ago

Answered 2 years ago

Step 1

1 of 2Since the refund is $84$ per cent of the value added tax, to obtain the refund, we have to multiply the value added tax $v$ by

$\frac{84}{100} = 0.84$

Thus, the refund is

$r(v) = 0.84v$

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