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3 . 1 Philani sees the following advert: SCOOTER FOR SALE R 1 5 0 0 0 CASH HIRE PURCHASE AGREEMENT AVAILABLE Since he cannot

3.1 Philani sees the following advert:
SCOOTER FOR SALE
R15000CASH
HIRE PURCHASE AGREEMENT
AVAILABLE
Since he cannot afford to pay cash for the scooter, he opts for the hire purchase
agreement which states the following:
15% deposit
24 monthly equal instalments
Interest rate: 10% per annum
3.1.1 How much will his deposit be?
3.1.2 Calculate the total amount that he must still pay.
3.1.3 Calculate the monthly instalments.
3.2 Bongiwe invested a certain amount into a savings account at 6,5% compound
interest per annum. If the final amount is R15300 after 5 years, how much did
she originally invest?
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