you have decided to purchase a car for $19,000. the credit union requires a 10% down payment and will…

you have decided to purchase a car for $19,000. the credit union requires a 10% down payment and will finance the balance with a 9% annual interest loan for 36 months. the sales tax in your city is 8.3%, and the license and title charges are $75. what is the total purchase price of the car including tax, license, and title?

you have decided to purchase a car for $19,000. the credit union requires a 10% down payment and will finance the balance with a 9% annual interest loan for 36 months. the sales tax in your city is 8.3%, and the license and title charges are $75. what is the total purchase price of the car including tax, license, and title?

Answer

Explanation:

Step1: Calculate the sales tax

The sales tax is (8.3%) of the car price. The car price is ( $19000). So the sales tax (T = 19000\times0.083=$1577)

Step2: Calculate the total purchase price

The total purchase price (P) is the sum of the car price, sales tax, and license - title charges. The license - title charges are ( $75). So (P=19000 + 1577+75) [ \begin{align*} P&=(19000 + 1577)+75\ &=20577+75\ &=$20652 \end{align*} ]

Answer:

($20652.00)