A furniture store manager buys a coffee table from their wholesale supplier for $\$ 415$. What is the retail price if their markup is $25 \%$ ? Give your answer rounded to the nearest cent.
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The retail price is $\$$
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Answer
Final Answer: The retail price is \(\boxed{518.75}\) dollars.
Step 1 ：Let the cost price of the coffee table be denoted by \(C\), which is \$415.
Step 2 ：Let the markup be denoted by \(M\), which is 25% of the cost price. So, \(M = 0.25 \times C = 0.25 \times 415 = \$103.75\).
Step 3 ：The retail price is the sum of the cost price and the markup. So, the retail price \(R = C + M = 415 + 103.75 = \$518.75\).
Step 4 ：Final Answer: The retail price is \(\boxed{518.75}\) dollars.
