Question

what is higher purchase ????​

Answer 1

Answer:

A hire purchase, known as installment plan is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment and repays the balance of the price of the asset plus interest over a period of time. 

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Answer 2

Explanation:

A hire purchase, known as installment plan is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment and repays the balance of the price of the asset plus interest over a period of time. Other analogous practices are described as closed-end leasing or rent to own.