peter buys a campervan costing £35,000 + 20% VAT
he pays a 50% deposit and then arranges to pay the remaining balance in 20 equal monthly installments
calculate the amount paid each month by Peter
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Total amount he has to pay = 35000 + 20%of 35000 = 35000 + 7500 = 42500
He pays 50% that is 21250 and remaining is 21250. This amount he pays in 20 instalment
So each instalment = 21250/20 = 1062.5£
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