4. A school superintendent purchases a new sedan for P26,788. a. If the sales tax is 5.25% of the purchase price, fi nd the amount of the sales tax. b. The superintendent makes a P2500 down payment and the license fee is P145. Find the amount the superintendent must fi nance. c. Assuming the superintendent gets the loan in part b at an annual interest rate of 8.1% for 5 years, determine the superintendent's monthly car payment.

4. A school superintendent purchases a new sedan for P26,788. a. If the sales tax is 5.25% of the purchase price, fi nd the amount of the sales tax. b. The superintendent makes a P2500 down payment and the license fee is P145. Find the amount the superintendent must fi nance. c. Assuming the superintendent gets the loan in part b at an annual interest rate of 8.1% for 5 years, determine the superintendent's monthly car payment.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 18P

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