Ask Singapore Homework?
Upload a photo of a Singapore homework and someone will email you the solution for free.
Question
Secondary 1 | Maths
One Answer Below
Anyone can contribute an answer, even non-tutors.
I am struggling with this question
Date Posted: 4 years ago
Views: 204
See 1 Answer
First, the down payment is:
15% of $450
= 15/100 x $450
= $67.50
The remaining amount is 85% of $450, which is:
85/100 x $450 = $382.50
(or: $450 - $67.50 = $382.50)
Given that the remaining amount is paid over 18 months and the interest rate is 12% per annum, the total interest is:
18 ÷ 12 = 1.5 years
12 x 1.5 = 18%
Therefore, the amount of interest paid is:
18% of $382.50 = $68.85
Total instalment (inclusive of interest) is:
$382.50 + $68.85 = $451.35
Hence, the monthly instalment is:
$451.35 ÷ 12 = $37.6125 ≈ $37.61
And the total amount he pays is:
Downpayment + Total instalment
= $67.50 + $451.35
= $518.85
15% of $450
= 15/100 x $450
= $67.50
The remaining amount is 85% of $450, which is:
85/100 x $450 = $382.50
(or: $450 - $67.50 = $382.50)
Given that the remaining amount is paid over 18 months and the interest rate is 12% per annum, the total interest is:
18 ÷ 12 = 1.5 years
12 x 1.5 = 18%
Therefore, the amount of interest paid is:
18% of $382.50 = $68.85
Total instalment (inclusive of interest) is:
$382.50 + $68.85 = $451.35
Hence, the monthly instalment is:
$451.35 ÷ 12 = $37.6125 ≈ $37.61
And the total amount he pays is:
Downpayment + Total instalment
= $67.50 + $451.35
= $518.85
360 Tutoring Program