Final answer:
To calculate the total hire purchase price of the laptop, add the deposit of $350 to the total of the 10 monthly payments of $120 each, which is $1,200. The total hire purchase price is $1,550.
Step-by-step explanation:
The question asks us to calculate the total hire purchase price of a laptop. The cash price is given as $1,299, but instead of paying in full, a hire purchase option is available, which includes a deposit and monthly payments.
To find the total hire purchase price, we first note the deposit of $350. Additionally, there are 10 monthly payments of $120 each. To calculate the total amount paid through monthly payments, we multiply the monthly payment amount by the number of payments:
$120 × 10 = $1,200
We then add the deposit to the total of the monthly payments to find the total hire purchase price:
- Total hire purchase price = $350 (deposit) + $1,200 (monthly payments)
- Total hire purchase price = $1,550
Therefore, the total hire purchase price of the laptop is $1,550.