Question

a bed room set is being sold for $5500 if bought cash. The set can be bought on hire purchase by making a down payment of $1500 followed by 24 monthly payments of $175 each. Calculate:

a. the total installments paid
b. the hire purchase
c. the amount saved by paying cash

Answer 1

Step-by-step explanation:

the total installments paid

24 ($175) = $4200 the hire purchase price $1500 + $4200 =

the amount saved by paying cash.

$5700 - $5500 = $200 saved by paying

cash

Dion bought a new keyboard on

hire-purchase. The cash price was $2400.

He paid a 25% deposit followed by 24

monthly payments of $120 each. Calculate

the amount of the deposit paid

$2400 * .25 = $600

the total monthly payments made

$120 * 24 = $2880

the hire purchase price $600 + $2880 = 3480

the difference between the cash price and the hire purchase price:

$3480 - $2400 = $1920