What will be the amount of the monthly repayments

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Reference no: EM131761004

1. The purchase price of a new van was $22,980. The sales tax rate in the state was 5.5%, and registration fees came to $133. There was also a $1,500 manufacturer’s rebate on the van. If the customer put a down payment of $2,200 toward the purchase, what was the delivered price?

2. A customer wishing to buy a car with a cash price of $250 000 is offered a hire purchase agreement (simple interest) involving monthly repayments over 5 years at 12% p.a. What will be the amount of the monthly repayments?

Reference no: EM131761004

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