Sunday
September 21, 2014

Homework Help: Instalment purchases

Posted by Jassie on Saturday, December 1, 2012 at 6:49am.

The cash price of a speed boat is RM60,000. Under an installment plan, a buyer may pay a 30% down payment followed by monthly payments for 5 years. If the interest is 6% on the reducing balance, calculate
(i) the amount of interest using the constant ratio formula,
(ii) the monthly payment,
(iii) the installment price of the speed boat

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Business maths - Instalment purchases - The cash price of a speed boat is RM60,...
math - If a TV set is bought on the installment plan there is a down payment of...
math - If a TV set is bought on the installment plan there is a down payment of...
math - Jeanna wants to buy a new boat for her family. She has two payment ...
Math - vacuum cleaner was purchase on the installment plan with 12 monthly ...
Business math - Find the installment price of a recliner bought on the ...
consumer math - Nikki borrowed $500 at 9% interest for 12 months under a ...
math - I need help calculating (a) the total installment price. (b) the carrying...
math - Nathaniel want to buy a new bike. His payment options are: Option 1: Pay...
math - Nathaniel want to buy a new bike. His payment options are: Option 1: Pay...

Search
Members