Question

peter buys a campervan costing £3500 + 20% VAT he pays a 50% deposit and then arranges to pay the remaining balance in 20 equal monthly instalments

Answer 1

Answer:

21,000 / 20 =1,050 Pounds per month for 20 months.

Step-by-step explanation:

35,000 x 1.20 =42,000 total cost of the camper van including 20% VAT.

42,000 / 2 = 21,000 Amount to be paid in monthly installments.

Since he is not charged interest, then his monthly payments would be:

21,000 / 20 =1,050 Pounds per month for 20 months.