# SOLUTION: Bob paid a total of \$32,000 for his new car, including his down–payment and the interest on a loan. If the interest rate was 5%, and he made a down-payment of \$5000, what was the

Algebra ->  Algebra  -> Percentage-and-ratio-word-problems -> SOLUTION: Bob paid a total of \$32,000 for his new car, including his down–payment and the interest on a loan. If the interest rate was 5%, and he made a down-payment of \$5000, what was the       Log On

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 Question 49159: Bob paid a total of \$32,000 for his new car, including his down–payment and the interest on a loan. If the interest rate was 5%, and he made a down-payment of \$5000, what was the sticker price of the car? Answer by checkley71(8403)   (Show Source): You can put this solution on YOUR website!32,000-5,000=27,000 which was the loan for 5% thus .05*27000=1,350 interest 32,000-1,350=30,650 which is the basic price of the car.