Question

A man bought a computer on hire purchase by making a down payment of$1500 and twelve monthly payments of $250 each. calculate the total hire purchase price

Answer 1

$4500

Explanation:

Given parameters:

Down payment = $1500

Monthly payment for twelve months =$250

Unknown;

Total hire purchase price = ?

Solution:

To find the total hire purchase price;

Total hire purchase price = Down payment + 12($250)

Total hire purchase price = $1500 + $3000

Total hire purchase price = $4500