Shay settled on a price of $8,950 for a new car. The dealer had to

Question

add 5% sales tax to this price, but allowed a $1,000 trade-in for
Shay's old car. Although not a universal practice, please add the
sales tax to the price of the new car first and then deduct the trade-
in value. If the dealer required a 22% down payment, calculate the
amount of the purchase price that Shay financed.

Answer 1

$8950 + (8950 * .05) - 1000 = Price

Multiply price by (1 - .22) to get portion financed.

I hope this helps.

Answer 2

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