Leslie bought a new car with a sticker price of $10,356. If she paid
6% sales tax, traded in her old car for $2,250, and made a 20% down
payment, calculate the total amount of the purchase price that she
financed.
10,356 * 1.06 = $10,977.36
$10,977.36 - 2,250 = $8,727.36
$8,727.36 * 0.2 = $1,745.472
$8,727.36 - $1,745.472 = $6,981.89
To calculate the total amount of the purchase price that Leslie financed, we need to subtract the down payment, sales tax, and trade-in value from the sticker price of the car.
1. Calculate the down payment:
Down payment = 20% of the sticker price
Down payment = 20/100 * $10,356
2. Calculate the sales tax:
Sales tax = 6% of the sticker price
Sales tax = 6/100 * $10,356
3. Calculate the total trade-in value:
Total trade-in value = $2,250
4. Calculate the total amount financed:
Total amount financed = Sticker price - Down payment - Sales tax - Total trade-in value
Therefore, the total amount of the purchase price that Leslie financed is the sticker price minus the down payment, sales tax, and trade-in value.
To calculate the total amount of the purchase price that Leslie financed, we need to consider the different components and deduce the remaining amount after deducting the down payment, trade-in value, and sales tax.
1. Deduct the down payment:
The down payment is 20% of the sticker price: 20/100 * $10,356 = $2,071.2.
Subtract this amount from the sticker price: $10,356 - $2,071.2 = $8,284.8.
2. Deduct the trade-in value:
Leslie traded in her old car for $2,250.
Subtract this amount from the previous result: $8,284.8 - $2,250 = $6,034.8.
3. Add the sales tax:
The sales tax is 6% of $6,034.8: 6/100 * $6,034.8 = $362.088.
Add this amount to the previous result: $6,034.8 + $362.088 = $6,396.888.
Therefore, the total amount of the purchase price that Leslie financed is $6,396.888.