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Toyota Oman is announced Ramadan offer to its customers for a limited period of time. The offer is available only for citizens and residents with

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Toyota Oman is announced Ramadan offer to its customers for a limited period of time. The offer is available only for citizens and residents with stable monthly income. The offer is part of the company's sale promotion campaign in the Holy month. The following were offered to you; i) ii) iii) Toyota Corolla 2019, 2.0L cash price OMR 7,500; down payment OMR 500 and the balance will be paid with 24 equal monthly payments of OMR 303. If you are interested to buy the car, how much you have to spend for the car. (2 Marks) Toyota Corolla 2019, 2.0L cash price OMR 7,500; down payment OMR 1,000 and the balance will be paid with 24 equal monthly payments of OMR 125. If you are interested to buy the car, how much you have to spend for the car. (2 Marks) Compare the finance charges of the above two options and suggest the best one for the car buyers. (2 Marks) Mr. Ahmed is a businessman decided to buy the same car with ready cash, since his income was not regular. So he borrowed money from a moneylender at the simple interest rate of 3 % for two years. How much he has to pay after two years to the money lender. (2 Marks) Recommend the best method of financing to Mr.Ahamed? Explain. ( 2 Marks) iv) v)

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