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4 partsStep-by-step solution
7 stepsHere's the solution for Question 1:
Part 1
Given information:
Down payment = $300.00
Number of monthly payments = 18
Monthly payment amount = $200.00
Cash price = $3600.00
Part a\3900.00$
\3900.00$
The hire purchase price
Calculate the total amount paid in monthly installments.
Calculate the hire purchase price by adding the down payment to the total monthly payments.
The hire purchase price is
\boxed{\3900.00}$.
Part b\300.00$
\300.00$
The interest charged
Calculate the interest charged by subtracting the cash price from the hire purchase price.
The interest charged is
\boxed{\300.00}$.
Part c
The percentage interest charged
Calculate the percentage interest charged using the interest charged and the cash price.
Perform the calculation.
The percentage interest charged is (rounded to two decimal places).
Part d\4000.00$
\4000.00$
The advertised cash price of the tablet computer represents a discount of 10% of the original cash price. Calculate the original cash price.
Let the original cash price be .
The advertised cash price ($3600.00) is the original cash price minus a 10% discount.
Solve for .
The original cash price is
\boxed{\4000.00}$.
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