(f) A calculator is sold under hire purchase term. A deposit of 560/- is requiredand a monthly installment of 450/- per month for one year. If the cash priceof the calculator is 3820/-, find the difference between the cash and hirepurchase price.

First, we need to find the hire purchase price.

Answered: (f) A calculator is sold under hire…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 2E

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(f) A calculator is sold under hire purchase term. A deposit of 560/- is required and a monthly installment of 450/- per month for one year. If the cash price of the calculator is 3820/-, find the difference between the cash and hire purchase price.