Need Help With Math- Money and Interest
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!