SOLUTION: Find the ownership tax List price:$16,500 Year:2nd Ownership tax:? Ownership Tax Rate Table: Age of car Rate 1st year-2.0% of factory list price 2nd year-1.5% of fac

Algebra ->  Finance -> SOLUTION: Find the ownership tax List price:$16,500 Year:2nd Ownership tax:? Ownership Tax Rate Table: Age of car Rate 1st year-2.0% of factory list price 2nd year-1.5% of fac      Log On


   

Question 1173563: Find the ownership tax
List price:$16,500
Year:2nd
Ownership tax:?
Ownership Tax Rate Table:
Age of car Rate
1st year-2.0% of factory list price
2nd year-1.5% of factory list price
3rd year-1.1% of factory list price
4th year-0.8% of factory list price
5th-9th years-0.5% of factory list price
10th year and older-$5.00

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
Start by looking at 10% of the list price. Take off the last zero, and it is $1650
1% is taking off the last two zeros or $165
2% is twice that of $330.
1.5% is 1.5 times $165 or $247.50
1.1% is 1.1 * $165 or $181.50
0.8% of that is $132
0.5% of that is $82.50