Johan wants to buy a car on hire purchase for N$75000 at the rate of 10% p.a. repayable using monthly installments for a period of 2 years and 8 months. (No deposit was required). (a) Total amount of money expected to be paid to the Hire Purchase Company over the years. N$ (b) Monthly installment to be paid by George. N$ Bank 1 offered him a loan repayable at a certain monthly instalment for the same period of time as the car hire company at the rate same rate of 10% p.a. whereas Bank B offered to reduce the rate of by 1.5% p.a. (c) Total amount of money expected to be received by Bank 1. N$
Johan wants to buy a car on hire purchase for N$75000 at the rate of 10% p.a. repayable using monthly installments for a period of 2 years and 8 months. (No deposit was required). (a) Total amount of money expected to be paid to the Hire Purchase Company over the years. N$ (b) Monthly installment to be paid by George. N$ Bank 1 offered him a loan repayable at a certain monthly instalment for the same period of time as the car hire company at the rate same rate of 10% p.a. whereas Bank B offered to reduce the rate of by 1.5% p.a. (c) Total amount of money expected to be received by Bank 1. N$
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 21CE
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