Chloe does not have enough money to pay cash for these items and investigates the
hire purchase option. The deal entails the following:
•
10% deposit
20, 75% annual simple interest and 3 years to pay.
1.2.1 The promotion on the internet states that the discount offered on the more expensive
option is 15%. Calculate the percentage discount if the original price was R10 499, 00 in
order to verify the claim.
(3)
1.2.2 If Chloe decides to take the more expensive deal. Calculate the deposit she has to pay. (2)
1.2.3 Identify the interest rate charged on the financed amount.
1.2.4 Chloe paid R899,99 as a deposit. Calculate the amount payable after 3 years, excluding
the deposit that he already paid.
(2)
(4)
[29]
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