You want to buy a used car for $8,648.00 plus 4.7% sales tax.

Question

You want to make a 5% down payment. How much is your down
payment? Round to the nearest penny

Answer 1

To calculate the down payment for the used car, you first need to determine the amount of the down payment based on the total cost of the car before tax.

1. Calculate the down payment:

   • The down payment is 5% of the car's price.
   • Car price: $8,648.00
   • Down payment percentage: 5%

   \[ \text{Down payment} = \text{Car price} \times \text{Down payment percentage} \]

   \[ \text{Down payment} = 8,648.00 \times 0.05 \] \[ \text{Down payment} = 432.40 \]

So, the down payment is $432.40.