Question

A refrigerator can be bought on hire purchase by making a deposit of $500 and 18 monthly instalment of $56.50 each. Calculate the hire purchase cost of the refrigerator.
Hire purchase = Deposit + Amount Payable

Answer 1

Answer:

So total depo = 500×18 = 9000$

Installment for 18 mts = 500×56.50 = 28250$

So total = 28250+9000 = 37250$ ans

Answer 2

Answer:

hire purchase cost = 500 + (56.50 * 18)

hire purchase cost = $ 1517

Step-by-step explanation:

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