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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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Chapter
Section
BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper. If the sales tax in his state is 7% and the tag and title fees are $165, calculate the following information for Joe.

a. The total cost of the car, including tax, tag. and title

b. The amount financed

c. The finance charge

d. The total deferred price of the car

e. The annual percentage rate of the loan rounded to the nearest hundredth

(a)

To determine

To calculate: The total cost of the car including with the tax, tag and the title, if Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165 as in the figure,

Contemporary Mathematics for Business & Consumers, Chapter 13, Problem 15AT , additional homework tip  1

Explanation

Given Information:

Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165 as in the figure,

Calculation:

Consider the provided information from the figure,

The sales price is $28,525, sales tax is 7% and tag and title fees are $165

(b)

To determine

To calculate: The financed amount, if Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165 and the total price is $30,686.75 with down payment is $6,000 as in the figure,

Contemporary Mathematics for Business & Consumers, Chapter 13, Problem 15AT , additional homework tip  2

(c)

To determine

To calculate: The finance charge, if Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165. Total price is $30,686.75 and down payment is $6,000. Amount financed is $24,686.75, monthly payment is $557 and number of monthly payment is 60.

(d)

To determine

To calculate: The total deferred price of car, if Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165 as in the figure,

Contemporary Mathematics for Business & Consumers, Chapter 13, Problem 15AT , additional homework tip  3

(e)

To determine

To calculate: The annual percentage rate nearest to the hundredth place, if Joe Keener found the accompanying ad for a Ford Mustang in his local newspaper with the sales tax is 7% and tag and title fees are $165 as in the figure,

Contemporary Mathematics for Business & Consumers, Chapter 13, Problem 15AT , additional homework tip  4

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Chapter 13 Solutions

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Sect-13.I P-8RESect-13.I P-9RESect-13.I P-10RESect-13.I P-11RESect-13.I P-12RESect-13.I P-13RESect-13.I P-14RESect-13.I P-15RESect-13.I P-16RESect-13.I P-17RESect-13.I P-18RESect-13.II P-4TIESect-13.II P-5TIESect-13.II P-6TIESect-13.II P-7TIESect-13.II P-8TIESect-13.II P-9TIESect-13.II P-1RESect-13.II P-2RESect-13.II P-3RESect-13.II P-4RESect-13.II P-5RESect-13.II P-6RESect-13.II P-7RESect-13.II P-8RESect-13.II P-9RESect-13.II P-10RESect-13.II P-11RESect-13.II P-12RESect-13.II P-13RESect-13.II P-14RESect-13.II P-15RESect-13.II P-16RESect-13.II P-17RESect-13.II P-18RESect-13.II P-19RESect-13.II P-20RESect-13.II P-21RESect-13.II P-22RESect-13.II P-23RESect-13.II P-24RESect-13.II P-25RESect-13.II P-26RESect-13.II P-27RESect-13.II P-28RESect-13.II P-29RESect-13.II P-30RESect-13.II P-31RESect-13.II P-32RESect-13.II P-33RESect-13.II P-34RESect-13.II P-35RESect-13.II P-36RESect-13.II P-37RESect-13.II P-38RESect-13.II P-39RESect-13.II P-40RESect-13.II P-41RESect-13.II P-42RESect-13.II P-43RESect-13.II P-44RESect-13.II P-45RESect-13.II P-46RESect-13.II P-47RESect-13.II P-48RESect-13.II P-49RESect-13.II P-50RESect-13.II P-51RESect-13.II P-52RESect-13.II P-53RESect-13.II P-54RESect-13.II P-55RECh-13 P-1CRCh-13 P-2CRCh-13 P-3CRCh-13 P-4CRCh-13 P-5CRCh-13 P-6CRCh-13 P-7CRCh-13 P-8CRCh-13 P-9CRCh-13 P-10CRCh-13 P-11CRCh-13 P-12CRCh-13 P-13CRCh-13 P-14CRCh-13 P-1ATCh-13 P-2ATCh-13 P-3ATCh-13 P-4ATCh-13 P-5ATCh-13 P-6ATCh-13 P-7ATCh-13 P-8ATCh-13 P-9ATCh-13 P-10ATCh-13 P-11ATCh-13 P-12ATCh-13 P-13ATCh-13 P-14ATCh-13 P-15AT

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