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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
Philani sees the following advert:
SCOOTER FOR SALE
RCASH
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:
deposit
monthly equal instalments
Interest rate: per annum
How much will his deposit be
Calculate the total amount that he must still pay.
Calculate the monthly instalments.
Bongiwe invested a certain amount into a savings account at compound
interest per annum. If the final amount is R after years, how much did
she originally invest?
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