SOLUTION: The hire purchase price of a refrigerator is R6500. The deposit of R500 is made the remainder is paid equal monthly payment of R250.Calcute the number of monthly payments that must
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Question 1019250: The hire purchase price of a refrigerator is R6500. The deposit of R500 is made the remainder is paid equal monthly payment of R250.Calcute the number of monthly payments that must be made
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Well if you make a down payment of 500, you still owe 6500-500 = R6000.
Divide that by R250 per month and we get
R6000 / R250 = 24 monthly payments
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