U car dealership pays \( \$ 8,350 \) for a car. They mark up the price by \( 17.4 \% \) to get the retail price. What is the retail price of the car at this dealership?

To find the retail price of the car, you first need to calculate the amount of the markup. You can do this by multiplying the cost price by the markup percentage: \[ \text{Markup} = 8,350 \times 0.174 = 1,454.90 \] Next, add the markup to the original cost price to get the retail price: \[ \text{Retail Price} = 8,350 + 1,454.90 = 9,804.90 \] So, the retail price of the car at this dealership is \( \$ 9,804.90 \). Now, let's take a look at some interesting insights. Many car dealerships use similar methods of calculating retail prices, and markup percentages can vary significantly from one dealership to another. Sometimes, these percentages are influenced by demand, seasonality, or even specific promotions, which can affect the final price you see on the lot. To save money while shopping for cars, it's wise to research the average market price for the model you want before stepping into a dealership. This enables you to negotiate better and might even help you spot any excessively high markups! Remember, being informed is half the battle!