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You are purchasing a car for $12,465.00 plus 5.65% sales tax. You make a $1,300.00 down payment and have a fair credit score. How much interest is due at the end of the first month?

Answer :

Aliwohaish12
12,465+(12,465×0.0565)
=13,169.2725

13,169.2725−1,300
=11,869.2725

11,869.2725÷12
=989.1060416667

989.1060416667×0.064
=63.30......answer

Answer:

$989.10 is due at the end of the first month.

Step-by-step explanation:

Price of a car = $12,465

Sales Tax = 5.65%

5.65%    =  0.0565

12,465 × 0.0565 = 704.2725

Sales tax = 704.2725

Now we add this tax to the price of car

12,465 + 704.2725 = 13,169.2725

Total price of a car with sales tax = $13,169.27

You make a down payment = $1,300.00

Now your due payment = $13,169.27 - $1,300.00

Total due payment         = $11,869.27

If due payment will be paid in 12 months it will be divided by 12

Therefore  11,869.27 ÷ 12 = $989.10

$989.10 is due at the end of the first month.

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