Question

Sales tax on the purchase of a vehicle is calculated on the net purchase price (which is the total purchase price minus the amount allowed by a dealer for any trade-in). The rate of tax for residents in Denver, CO is as follows:

Colorado state tax: 2.90%
Regional transportation district (RTD) tax: 1.20%
Denver city tax: 3.62%
Using the information above, answer the following:

What is the total sales tax to be paid in 2002 on the purchase of a 2002 passenger vehicle with a sales price of $17,000 and a $2,000 trade-in allowance?
How would the sales tax be distributed between the state+

Answer 1

, the RTD, and the city?

Answer 2

i get it now.

we have to get first the net purchase price (total purchse price minus dealer trade-in)

then for the result, apply now the interset rate. .

Answer 3

do you have calculator there?

Answer 4

coz, i don't have one.. can you cooperate? i don't have calculator here. . lol

Answer 5

17,000-2000= 15,000

now we are going to use 15,000 as our subject for obtaining the interest rate.

Answer 6

in this kind of p[roblem, since we are asked of the tax, we are only going to find the sales tax per branch (state, RTD, city), excluding the price. .

Answer 7

a. 15, 000 x 0.029 = ? (the result is the tax proceed to the state)

b. 15,000 x 0.012 = ? (RTD)

c. 15,000 x 0.0362 ? (city)


to get the total sales tax, add all the result. .


can you do it now? i really wanted to solve it, but it's kinda exhaustive without calculator. .

Answer 8

kira, do you have it?