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A Stove Can be bought on hire purchase by making a deposit of $750 and 15 monthly installments of $185 each. Calculate the hire Purchase Price of the stove
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A Stove Can be bought on hire purchase by making a deposit of $750

and 15 monthly installments of $185 each. Calculate the hire Purchase
Price of the stove

User Revo
by
4.2k points

1 Answer

9 votes

Answer:

$3,525.00

Step-by-step explanation:

The hire purchase price will be the sum of the deposit and the total monthly installments.

The deposit is $750

Monthly installments =monthly fee multiplied by 15 months

=$185 x 15

=$2,775.00

Hire purchase cost will be

=$2,775.00 +$750

=$3,525.00

User Carolin
by
3.9k points
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