Economy, asked by dewrajdevraj5773, 10 months ago

What is the difference between hire purchase and deferred payment

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Answered by jetrohale420
1

Answer:The monthly or period payment in installment purchase is termed as installment whereas, in hire purchase arrangement, it is called hire charges. Installment derives its value from the length of time, the sale value of an asset, and interest rate whereas the hire charges is a function of two additional factors viz.

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