Question
A. Paystation 3 worth R .4560 , is bougit from a department store. A deposit of \( 10 \% \) is paid in cash and the remainder of the amount is bomowed on a hire purchase agreement and is repaid in 4 years. The interet on a lcan is charged ar \( 18 \% \) pa. \&. Determine the deppait amount.
Ask by Gray Summers. in South Africa
Mar 11,2025
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Answer
The deposit amount is 456 R.
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To find the deposit amount, simply calculate \( 10\% \) of the Paystation's total value, which is R 4560. The calculation goes as follows: \[ \text{Deposit} = 0.10 \times R 4560 = R 456 \] So, the deposit amount is R 456. Now, considering the remaining balance on the hire purchase agreement: After paying the deposit, the remaining balance is \( R 4560 - R 456 = R 4104 \). This amount is borrowed and will need to account for interest over the 4-year period.