Respuesta :
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.
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