Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

finances - hire purchase grade 9 the hire purchase price of a refrigerator is R 6 5 0 0 . the deposit of R 5

finances - hire purchase grade 9
the hire purchase price of a refrigerator is R6500. the deposit of R500 is made and the remainder is paid in equal monthly payments of R250.
a. calculate the number of monthly payments that must be made.
b. if the cash price is R4000, express as a percentage of the cash price, the extra cost of buying on hire purchase.
c. what is the interest rate (simple interest) charged on this transaction.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Development Finance Innovations For Sustainable Growth

Authors: Nicholas Biekpe, Danny Cassimon, Andrew William Mullineux

1st Edition

331954165X, 978-3319541655

More Books

Students also viewed these Finance questions