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Secondary 1 | Maths
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Help for b
Date Posted: 3 years ago
Views: 511
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Cost $829
Deposit 15% = hire purchase 85%
(Hire purchase is like a loan to buy the item)
Pay 18 months = 1.5 years @ 5% per annum interest
Hire purchase amount = 829 x 85% = 704.65
Interest = 5% x 1.5 yrs x 704.65 = $52.85
Deposit 15% = hire purchase 85%
(Hire purchase is like a loan to buy the item)
Pay 18 months = 1.5 years @ 5% per annum interest
Hire purchase amount = 829 x 85% = 704.65
Interest = 5% x 1.5 yrs x 704.65 = $52.85
Total installment amounts
Cost = 704.65
Interest = 52.85
Total = $757.50
Divide into 18 installments = $42.08
Cost = 704.65
Interest = 52.85
Total = $757.50
Divide into 18 installments = $42.08
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