Question

The new Ford car dealership in town is labeling the MSRP for all their new vehicles 7% above their invoice price. if the invoice price of the new Ford focus is 21,500, what is the MSRP?

Answer 1

The MSRP of the new Ford Focus, which is set at 7% above the invoice price of $21,500, is calculated to be $23,005.

Step-by-step explanation:

To calculate the Manufacturer's Suggested Retail Price (MSRP) for the new Ford Focus, which is labeled at 7% above the invoice price of $21,500, use the following steps:

• First, find 7% of the invoice price. To do this, convert 7% to a decimal by dividing 7 by 100, which equals 0.07.
• Then, multiply the invoice price of $21,500 by 0.07 to find the amount to be added to the invoice price. $21,500 x 0.07 = $1,505.
• Add this amount ($1,505) to the original invoice price to find the MSRP. $21,500 + $1,505 = $23,005.

Therefore, the MSRP of the new Ford Focus is $23,005.