Question

Complete the car sale contract by calculating the amounts missing from lines d, e, f, 2, and Down Payment. Show your work.

PRICE OF VEHICLE AMOUNT
a. MSRP $13,500.00
b. Service/Dealer Fee $650.00
1. Cash Price (a + b) $14,150.00
SALES TAX CALCULATION AMOUNT
c. Amount Subject to Sales Tax (1) $14,150.00
d. State Tax (c x 0.06)
e. County Tax (c x 0.05)
f. Local Tax (c x 0.01)
2. Total of Taxes (d + e + f)
DOWN PAYMENT AMOUNT
3. Down Payment
OTHER FEES AMOUNT
g. Registration $595.00
h. Emissions Testing $45.00
i. Documentation Fee $500.00
4. Total Other Fees (g + h + i) $1,140.00
Balance to Finance (1 + 2 – 3 + 4) $13,488.00

Answer 1

ICE OF VEHICLE AMOUNT

a. MSRP $13,500.00

b. Service/Dealer Fee $650.00

1. Cash Price (a + b) $14,150.00

SALES TAX CALCULATION AMOUNT

c.

e. C

Explanation: