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.