coolfield7
Jan 9, 2014, 01:30 AM
Hi, I'm having trouble with some math and would really appreciate some help. I'm on a chapter where I'm learning about interest. Here's the problem:
For each of the following (i) find the additional amount you have to pay by hire purchase and (ii) express the additional amount obtained in (i) as a percentage of the cash price.
(a) Cash price- $360
Down payment- $50
Monthly installment- $40
Number of installments- 10
This is really confusing for me, I have no idea what to do. I'd be really grateful for any help.
Thanks!
For each of the following (i) find the additional amount you have to pay by hire purchase and (ii) express the additional amount obtained in (i) as a percentage of the cash price.
(a) Cash price- $360
Down payment- $50
Monthly installment- $40
Number of installments- 10
This is really confusing for me, I have no idea what to do. I'd be really grateful for any help.
Thanks!