total amount if the interest is 13,5% annual

INVESTIGATIVE STATEMENT: The effect of interest and inflation on our daily lives Mr Petersen has been waking to mo ca derawit in order to purchase a second hand vehicle at a local garage He is intends to purchase the vehicle on credit. He visited different garages in search of an affordable vehicle and came across the one advertised as follows. PICTURE OF A VEHICLE INFORMATION 2017 RENAULT DUSTER 1.6 Dyamique R189 995 75 500 km Manual and petrol Source wwww.autotrader.co.zal se the information above to answer t te questions that follow Differentiate between the cone pis interest and interest rate. The dealer offers Mr Peterson -n option to pay for the car over 48 or 54 months imple interest and other charg 's known as finance charges will be added to the ginal price of the car Name the agreement wl are a consumer doesn't borrow money to buy in item but rather takes ownership of the item and then pay monthly talments (3) down(in simplest form) the ratio of the payment options or term ents respectively (2 reason why A : Peterson has to pay finance charges