Question

Question 2 Multiple Choice Worth 10 points)
(03.02 LC)
Duncan is considering a loan to purchase a car. He has saved $1,000 and is considering a used car that costs $8,000. The sales tax rate is 8%, and the fees are
$450. How much will Duncan need to borrow?
O $7,640
$8,090
&8,126
$8,640

Answer 1

Answer:

B) $8,090

Step-by-step explanation:

took the test

Answer 2

Duncan need to borrow a loan of $8090 to purchase a car.

What is selling price?

Selling price is defined as amount of money required to pay by the customer for purchase. It includes cost of good,taxes and fees.

Now, it is  given that

Cost of car = $8,000

Sales tax = 8%

⇒ Sales tax on cost of car = 8% of $8000

                                            = 0.08 × $8000

⇒ Sales tax on cost of car = $640

Fees = $ 450

So total cost of car is selling price will be given as-

Selling price = Total Cost + Sales tax + Fees

⇒  Selling price of car =  Cost + Sales tax + Fees

⇒ Selling price of car =  $8000 + $640 + $450

⇒ Selling Price of car =  $9090

Since,Duncan has saved $1000

Therefore, Money needed for loan =  Total Cost - Money Saved

⇒ Money needed for loan = $9090 - $1000

⇒ Money needed for loan = $8090

Duncan need to borrow a loan of $8090 to purchase a car.

More about Selling Price :

https://brainly.com/question/17960775

#SPJ5