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3 marksInstalment Payments

CSEC Mathematics · 2009 (second paper) · Paper 2 · Question 3(b)

A customer buys a stove on hire purchase with a down payment of $500.00 and 24 equal monthly instalments.

If the TOTAL cost of the stove on hire purchase is $4064.00, calculate the amount of EACH monthly instalment.

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Other parts of this question

  1. 3(a)(i)Calculate the profit made by selling one calculator.[1 mark]
  2. 3(a)(ii)Express your answer in (i) above as a percentage of the cost price.[2 marks]
  3. 3(a)(iii)a)Calculate the discount on the purchase.[2 marks]
  4. 3(a)(iii)b)Calculate the price paid for the calculator.[2 marks]

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