Answer:
$393.75
$2,446.88
Step-by-step explanation:
Let's take this problem one step at a time. First let's compute for the total price after the sales tax has been added.
Sales tax = 8.75% or 0.0875
Original Price = $4,500
The sales tax is computed by multiplying the total to the sales tax rate.
4,500 x 0.0875 = $393.75
$393.75 is the total sales tax that Brenton will pay.
Now to find the total price with the sales tax included, we simply add the original price and the sales tax value together.
4,500 + 393.75 = $4,893.75
Now that we have the total overall price, we can then compute for how much the 50% down payment Brenton has made.
Down Payment = 50% or 0.5
Overall Price = $4,893.75
We simply multiply both the down payment and the overall price to find how much Brenton has paid.
4,893.75 x 0.5 = $2,446.88
Now that we know how much Brenton paid, we also now know how much Brenton financed by subtracting the overall price to his down payment.
4,893.75 - 2,446.88 = $2,446.88
Brenton finance a total amount of $2,446.88.
