a. A stove can be bought on hire purchase by making a deposite of $650 and 12 monthly instalments of $195 each. Calculate the hire purchase price of the stove.
B. The actual marked price of the stove is $2400. This includes a sales tax of 12.5%
Calculate the selling price of the stove if no sales tax is include.
a. Calculate the difference between the hire purchase price and the marked price as a percentage of the outstanding balance.
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Step-by-step explanation:
It looks like there is a stove for sale that costs $750 down and 15 monthly payments of $185 each.
So, you have $750 down, plus ...
15 * $185 = $2,775
Which means the total cost of the stove is:
$750 down + $2,775 payments = $3,525 total.
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