You have decided to purchase a car for $19,000. The credit union requires a 10% down payment and will finance the balance with a 9% annual interest loan for 36 months. The sales tax in your city is 8.3%, and the license and title charges are $75. What is the total purchase price of the car including tax, license, and title?

a.

$19,075.00

c.

$20,652.00

b.

$18,594.30

d.

$20,577.00

Question

Mathematics

Lainey Monroe

20 July, 00:05

You have decided to purchase a car for $19,000. The credit union requires a 10% down payment and will finance the balance with a 9% annual interest loan for 36 months. The sales tax in your city is 8.3%, and the license and title charges are $75. What is the total purchase price of the car including tax, license, and title?

a.

$19,075.00

c.

$20,652.00

b.

$18,594.30

d.

$20,577.00

+3

Answers (1)

Know the Answer?

Justin Hanna · Answer 1

Purchase price: 19, 000

Sales Tax:

8.3% x 19,000 = 1,577

License and title: 75

Total: 20,652

The total purchase is C) 20,652

The interest on the loan is the cost of financing the purchase, but is not included in the purchase price.