Question 2 The cash price for a bike is $240. Peter bought it on payment plan over a one year period. A deposit of $60 was paid and 12% p.a. simple interest was charged. a. Calculate the actual...

Question 2<br>The cash price for a bike is $240. Peter bought it on payment plan over a one year<br>period. A deposit of $60 was paid and 12% p.a. simple interest was charged.<br>a. Calculate the actual interest charged.<br>b. Calculate the total amount to be repaid.<br>c. Calculate the amount of each monthly repayment.<br>

Extracted text: Question 2 The cash price for a bike is $240. Peter bought it on payment plan over a one year period. A deposit of $60 was paid and 12% p.a. simple interest was charged. a. Calculate the actual interest charged. b. Calculate the total amount to be repaid. c. Calculate the amount of each monthly repayment.

Jun 04, 2022

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Question 2 The cash price for a bike is $240. Peter bought it on payment plan over a one year period. A deposit of $60 was paid and 12% p.a. simple interest was charged. a. Calculate the actual...

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