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Q.
Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the total cost of the car?
A.
30.240
B.
31.240
C.
33.240
D.
32,240
View Answer
Correct choice: D
Explanation:
Total cost = deposit + instalment amount × number of instalments
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