Question
Barbara wanis to buy a new car for \( \$ 20,300 \), she has talked to the loan officer at her credic union and hnows that they will toan her p9500. She must also pay 1375 for a license fee and \( \$ 150 \) for taxes. What amount of cash will she need to buy the car?
Ask by French Pearson. in the United States
Jan 20,2025
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Tutor-Verified Answer
Answer
Barbara needs \$12,325 in cash to buy the car.
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The Deep Dive
To find out how much cash Barbara will need to buy the car, first, let's calculate the total cost of the car, including the license fee and taxes. The total cost would be: \[ \$20,300 + \$1,375 + \$150 = \$21,825 \] Next, we subtract the loan amount from this total cost: \[ \$21,825 - \$9,500 = \$12,325 \] Therefore, Barbara will need \( \$12,325 \) in cash to buy the car. So, the total cash Barbara will need to complete the purchase is \$12,325.