Problem
Purchase price: $\$ 30,400$; sales tax: $7.5 \%$; license and title fees: $\$ 350$; money credited for trade-in (subtracted from price of vehicle before taxes): $\$ 13.200$; payments: $\$ 499.68$ for 72 months. Part 1 of 4 Find the total cost of the car. The total cost of the car is $\$ 18840$. Alternate Answer: \[ \$ 18,840.00 \] Part: 1 / 4 Part 2 of 4 Find the amount financed. The amount financed is $\$$ \[ \times \quad 5 \] Submit Assignn
Solution
Step 1 ：First, subtract the trade-in credit from the purchase price: \(30400 - 13200 = 17200\)
Step 2 ：Next, calculate the sales tax by multiplying the price after trade-in by the sales tax rate: \(17200 \times 0.075 = 1290\)
Step 3 ：Add the sales tax and license and title fees to the price after trade-in: \(17200 + 1290 + 350 = 18840\)
Step 4 ：\(\boxed{18840}\) is the total cost of the car.
