You want to buy a used car for $8,648.00 plus 4.7% sales tax. You want to make a 5% down payment. How much is your down payment? Round to the nearest penny.

Question

You want to buy a used car for $8,648.00 plus 4.7% sales tax. You want to make a 5% down payment. How much is your down payment? Round to the nearest penny.

Answer 1

First, calculate the sales tax on the car:

$8,648.00 x 4.7% = $407.06

Add the sales tax to the price of the car:

$8,648.00 + $407.06 = $9,055.06

Calculate the down payment:

$9,055.06 x 5% = $452.75

So, your down payment would be $452.75.