James decides to replace his car. He sold his $20,000 car for 80% of its value and then was able to haggle to buy a $30,000 sticker price car for 90% of its value. How much was he out of pocket?
Let’s work this out in a step by step way to be sure we have the right answer.
11000
He sold his car for 20000 *.

8 = $16,000.

He bought the new car for 30,000 *.

9 = $27,000.

That means he was out of pocket 27,000 - 16,000 = $11,000.

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The final answer: 11000