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If the price of a car is $5,600 and has a down payment of 20%, how much is the down payment, if there is a tax rate of 4%?

User Indybee
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1 Answer

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We will have the following:

If the price of the car is $5600 and has a 20% downpayment with a tax rate of 4% we will determine the downpayment quantity as follows:


x=5600(0.20)+5600(0.20)(0.04)\Rightarrow x=1164.8

So, the downpayment with a tax rate of 4% over the downpayment is $1164.8.

User John Elemans
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