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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asked Mar 6, 2022 17.8k views

25 votes

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?

Mathematics
high-school

Michal Chmi asked

by Michal Chmi

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1 Answer

8 votes

Answer:

£600

Explanation:

200% of 500 is 100

500 + 100 = £600

Note:

you would have to pay £50 a month

TimG answered Mar 11, 2022

by TimG

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1 Answer

Answer:

£600

Explanation:

200% of 500 is 100

500 + 100 = £600

Note:

you would have to pay £50 a month

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