Question

The registration fee for a used car is 0.5% of the sale price of $5,500 How much is the fee?

Answer 1

The registration fee for a used car with a sale price of $5,500 at a rate of 0.5% is $27.50. This is calculated by multiplying the sale price by 0.005.

Step-by-step explanation:

The registration fee for purchasing a used car is calculated as a percentage of the sale price. In this case, the fee is 0.5% of the sale price, which is $5,500. To find the fee, you multiply the sale price by the percentage:

Registration Fee = Sale Price × Registration Fee Percentage

Registration Fee = $5,500 × 0.005 (since 0.5% is the same as 0.005 in decimal form)

Registration Fee = $27.50

Therefore, the registration fee that needs to be paid for this used car is $27.50.

Answer 2

$275

Step-by-step explanation:

Well, to find a percentage of something, (example: 30 percent of 90) we do the number * the decimal of the percentage.

1% = 0.1

0.5% = 0.05

So, we multiply (since this is a number less than zero) $5,500 * 0.05 = 275

Thus, the fee is $275