Question

A car dealership pays $8,350 for a car. They mark up the price by 17.4% to get the retail price. What is the retail price of the car at this dealership?

Answer 1

To find the retail price of the car, we need to calculate the markup amount based on the cost price and then add it to the cost price.

1. **Calculate the markup amount:**
\[
\text{Markup} = \text{Cost Price} \times \text{Markup Percentage} = 8,350 \times 0.174
\]

\[
\text{Markup} = 8,350 \times 0.174 = 1,452.90
\]

2. **Calculate the retail price:**
\[
\text{Retail Price} = \text{Cost Price} + \text{Markup} = 8,350 + 1,452.90
\]

\[
\text{Retail Price} = 9,802.90
\]

Thus, the retail price of the car at the dealership is **$9,802.90**.