Friday
August 29, 2014

Homework Help: Business maths - Instalment purchases

Posted by Jassie on Saturday, December 1, 2012 at 10:18am.

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

Instalment purchases - The cash price of a speed boat is RM60,000. Under an ...
math - Jeanna wants to buy a new boat for her family. She has two payment ...
Business math - Find the installment price of a recliner bought on the ...
QUANTITATIVE REASONING FOR BUSINESS - FOR AN INSTALLMENT LOAN, A FORMULA IS USED...
consumer math - Nikki borrowed $500 at 9% interest for 12 months under a ...
Business Math - Can someone please check over my answers? I'm not sure about ...
math - I need help calculating (a) the total installment price. (b) the carrying...
math - Calculate (a) the total installment price, (b) the carrying charges, and...
math - Wallace and Sarah purchased furniture for their new home. They had two ...
Monthly payment-Math - Okay here is my question two guys buy a new room for $10,...

Search
Members