Question

If you want to buy a car in NY that costs $8,200 and requires a down payment of 10%, what is the amount of the down payment? (Hint: NY sales tax is 8.6%

Answer 1

$820

Explanations:

Given the following parameters

• Cost of the car = $8,200

,

• Down Payment = 10%

Required

• Amount of the down payment.

The amount of the down payment is expressed as:

`\text{Amount}=\text{Down payment }* Cost\text{ of th}e\text{ car}`

Substitute the given parameters into the equation to have:

`\begin{gathered} \text{Amount}=10\%*8200 \\ \text{Amount}=\frac{10}{1\cancel{00}}*82\cancel{00} \\ \text{Amount}=10*82 \\ \text{Amount}=\$820 \end{gathered}`

Hence, the amount of the down payment is $820.