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What are the answers for the NISSAN NP300 special offer questions regarding cash price, repayment period, deposit amount, and total payment?

Business/Management

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Answers

5 parts
3.1

R221 180.00\text{R221 180.00}

3.2

5 years\text{5 years}

3.3

R24 329.80\text{R24 329.80}

3.4

R303 007.80\text{R303 007.80}

3.5

R81 827.80\text{R81 827.80}

Step-by-step solution

13 steps

Here are the answers for the NISSAN NP300 special offer questions:

Part 3.1· 1 step

  1. Identify the cash price from the table.

    The "Vehicle Price" is the cash price.
    The cash price is R221 180.

    The cash price of the NISSAN NP300 is R221 180.00\boxed{\text{R221 180.00}}.

Part 3.2

5 years\text{5 years}

  1. Identify the number of months for instalments.

    The table shows "Months" as 60.

  2. Convert months to years.

    There are 12 months in a year.

    Number of years=Number of months12\text{Number of years} = \frac{\text{Number of months}}{12} Number of years=60 months12 months/year=5 years\text{Number of years} = \frac{60 \text{ months}}{12 \text{ months/year}} = 5 \text{ years}

    It will take 5 years\boxed{\text{5 years}} to pay for the vehicle.

Part 3.3

R24 329.80\text{R24 329.80}

  1. Identify the vehicle price and deposit percentage.

    Vehicle Price = R221 180
    Deposit = 11%

  2. Calculate the deposit amount.

    Deposit amount=Vehicle Price×Deposit percentage\text{Deposit amount} = \text{Vehicle Price} \times \text{Deposit percentage} Deposit amount=R221 180×0.11\text{Deposit amount} = \text{R}221\,180 \times 0.11 Deposit amount=R24 329.80\text{Deposit amount} = \text{R}24\,329.80

    The amount of the deposit needed is R24 329.80\boxed{\text{R24 329.80}}.

Part 3.4

R303 007.80\text{R303 007.80}

  1. Identify the components of the total payment.

    Monthly instalments = R2 991
    Number of months = 60
    Residual = R99 218
    Deposit = R24 329.80 (calculated in 3.3)

  2. Calculate the total amount paid in monthly instalments.

    Total monthly instalments=Monthly instalment×Number of months\text{Total monthly instalments} = \text{Monthly instalment} \times \text{Number of months} Total monthly instalments=R2 991×60=R179 460\text{Total monthly instalments} = \text{R}2\,991 \times 60 = \text{R}179\,460

  3. Add the total monthly instalments, deposit, and residual to find the total payment.

    Total Payment=Total monthly instalments+Deposit+Residual\text{Total Payment} = \text{Total monthly instalments} + \text{Deposit} + \text{Residual} Total Payment=R179 460+R24 329.80+R99 218\text{Total Payment} = \text{R}179\,460 + \text{R}24\,329.80 + \text{R}99\,218 Total Payment=R303 007.80\text{Total Payment} = \text{R}303\,007.80

    The calculation for the Total Payment is:

    (R2 991×60)+R24 329.80+R99 218=R179 460+R24 329.80+R99 218=R303 007.80(\text{R}2\,991 \times 60) + \text{R}24\,329.80 + \text{R}99\,218 = \text{R}179\,460 + \text{R}24\,329.80 + \text{R}99\,218 = \boxed{\text{R303 007.80}}

Part 3.5

R81 827.80\text{R81 827.80}

  1. Identify the cash price and the total payment in instalments.

    Cash Price = R221 180
    Total Payment (instalments) = R303 007.80

  2. Calculate the saving for paying cash.

    Saving=Total Payment (instalments)−Cash Price\text{Saving} = \text{Total Payment (instalments)} - \text{Cash Price} Saving=R303 007.80−R221 180\text{Saving} = \text{R}303\,007.80 - \text{R}221\,180 Saving=R81 827.80\text{Saving} = \text{R}81\,827.80

    The person paying cash will save R81 827.80\boxed{\text{R81 827.80}}.

Part 3.6· 3 steps

  1. Compare the total cost of each payment method.

    Cash Payment = R221 180
    Instalment Payment = R303 007.80

  2. Determine which method has a lower total cost.

    The cash payment of R221 180 is less than the instalment payment of R303 007.80.

  3. Explain why it is the best value for money.

    The cash payment is the best value for money. This is because paying cash avoids the additional costs associated with interest, fees, and the residual amount that are included in the total instalment payment. The total cost for paying cash (R221 180) is significantly lower than the total cost for paying in instalments (R303 007.80).

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