Question

A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the monthly instalment?

A) $503 B) $504 C) $505 D) %506

Answer 1

$\huge\underline\bold\red{Answer}$

$504.

Answer 2

Option B is correct answer mate..