Question: Horatio is saving money to buy his first car. He works 15 hours each week and saves $10 for each hour he works. Horatio has already saved $3,500 and plans to save at least $5,300. He knows there will be an 8.5% sales tax on the purchase price of the car and a title transfer fee of $15. He will use the formula below to determine his gas mileage, y, in miles per gallon, from the number of miles m, the car can be driven using g gallons of gas.
Horatio need to pay a total of $5,246.87 for the car, including the sales tax and transfer fee. To the nearest dollar, what is the purchase price of the car Rocco plans to buy?
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