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Zinzi is buying a car today. She can afford to make monthly payments of R962 at the end of every month and has enough saved
Zinzi is buying a car today. She can afford to make monthly payments of R962 at the end of every month and has enough saved for a deposit of R13634. If she must pay interest at a rate of 8.736% per year, compounded monthly, and she wants to make exactly 30 payments, what is the cash-price of the car that she can buy? (Give your answer rounded to 2 decimal places. If you think the answer is R1012.3456, type in 1012.35)
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