3. Alila buys a car from Kia Motors’ hire purchase paying seven annual instalments of OMR 1,200, the first being an immediate cash deposit. Assuming an interest rate of 8 per cent is being charged by...

3. Alila buys a car from Kia Motors’ hire purchase paying seven annual instalments of OMR 1,200, the first being an immediate cash deposit. Assuming an interest rate of 8 per cent is being charged by the Kia Motors’ hire purchase, how much is the current cash price of the car?