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A computer costing £500 is bought and paid for in twelve monthly instalments with an interest rate of 20% added onto the purchase price. How much is each monthly installment?
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A computer costing £500 is bought and paid for in twelve monthly instalments with an interest rate of 20% added onto the purchase price. How much is each monthly installment?

User Michal Chmi
by
6.0k points

1 Answer

8 votes

Answer:

£600

Explanation:

200% of 500 is 100

500 + 100 = £600

Note:

you would have to pay £50 a month

User TimG
by
5.0k points
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