Typical markup on new cars is 13%-24%. If the sticker price is $20,499, write an inequality that gives the range of the invoice price (what the dealer paid the manufacturer for the car). Round to the nearest cent.
A) $16,531.45

Question

Typical markup on new cars is 13%-24%. If the sticker price is $20,499, write an inequality that gives the range of the invoice price (what the dealer paid the manufacturer for the car). Round to the nearest cent.
A) $16,531.45 < invoice price < $18,140.71
B) $23,562.07 < invoice price < $26,972.37
C) $17,834.13 < invoice price < $15,579.24
D) $15,579.24 < invoice price < $23,163.87

Quizplus · Accepted Answer

The invoice price is calculated by dividing the sticker price by 1 plus the markup percentage. For a 13% markup, the invoice price is $20,499 / 1.13 = $18,140.71. For a 24% markup, the invoice price is $20,499 / 1.24 = $16,531.45. Thus, the range is $16,531.45 < invoice price < $18,140.71.

Typical Markup on New Cars Is 13%-24