7.
Mr. Aamodt bought a new lawn tractor for $3,350.
a.
The state sales tax on the lawn tractor purchase will be 6.5%. How much state
sales tax will Mr. Aamodt pay on the tractor? (2 points)
b.
Mr. Aamodt has applied for a 2-year loan at the bank for $3,350 to pay for
the new lawn tractor. The bank will charge him 8.4% simple interest on the
loan. What amount of interest will Mr. Aamodt pay on the loan? (2 points)
C.
What is the total cost of Mr. Aamodt's new lawn tractor, including the purchase
price, the loan interest, and the sales tax? (2 points)