Question

After becoming a commercial pilot, Lorna Kao decides to purchase a Cessna 182

for $64,815. Assuming the sales tax is 5.1% of the purchase price, find each of the following.

(a) What is the total cost, including sales tax?

$  

(b) If Lorna makes a down payment of 18% of the total cost, find the down payment.

$  

(c) Assuming Lorna finances the remaining cost at an annual interest rate of 7.05% for 10 years, find the monthly payment.

$

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