Let's assume the caller is considering purchasing this car at Town Toyota in East Wenatchee with his $2000 down payment. He's going to finance the purchase price, including sales tax, minus the down payment, at 4.65% interest for 84 months.

 

1. As a Washington state resident, what is the percent state tax he has to pay, including sales tax and motor vehicles tax? how much money will he pay in taxes for this vehicle?

 

2. The caller plans to finance the amount of the car plus state taxes, minus his down payment ( no trade-in). Use the appropriate annuity formula to compute his monthly payment amount. Show your steps and calculations. Take a picture of your work and have it ready to upload when you take the quiz.

 

3. Find an online auto calculator to compute this monthly payments and confirm your answer. Take a screenshot of the result.

 

4. What is his all-in-cost of the car ( include taxes)

Answer rating: 100% (QA)

The state sales tax rate in Washington is 65 In addition there is a motor vehicle salesuse tax of 03 ... View the full answer