Question

If the price of a car is $4,300 with a tax rate of 9%, and the percent of down payment is 15%, how much will the total amount of the loan be?

Answer 1

Explanations:

Given the following information:

• Price of the car = $4300

If the tax rate is 9%, the price without tax is calculated as;

`\begin{gathered} \text{Price without tax=4300-(9\% of 4300)} \\ \text{Price without tax = 4300-(}0.09*4300\text{)} \\ \text{Price without tax }=4300-387 \\ \text{Price without tax = }\$3913 \end{gathered}`

If the percent of downpayment is 15%, the amount of the loan is calculated as;