Pure Maths 1.2 Sipho bought a brand-new Ford Ranger in April 2015 on hire...
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Accounting
Pure Maths
1.2 Sipho bought a brand-new Ford Ranger in April 2015 on hire purchase at a cost of R379 000. He agreed on paying 15% deposit and took out a loan for the remaining balance at an interest rate of 22,5%. 1.2.1 How much deposit did Sipho pay? 1.2.2 Hence, calculate the initial value of the loan. 1.2.3 Calculate the value of the loan with interest in April 2019. 1.2.4 Calculate the monthly instalments if he paid off the loan after the four-year period
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