Question

. sipho buys a car for r169 000. he pays a deposit of 15% and then makes monthly installments of 1% of the leftover amount for 9 years. i) what amount must sipho pay for the deposit? ii) what is the monthly payment that sipho makes? iii) how much does sipho pay in total for the car?

Answer 1

The amount for the deposit is $25350, monthly payment is $1436.5 and the total amount that Sipho pays is $178492.

Given price of car $169000, deposit of 15%, monthly installments being 1% of left over price and number of years be 9 years.

We have to find the amount of deposit, monthly installments and the total amount paid by Sipho.

We have been told that deposit is 15% of total amount. So the deposit will be 15%*169000=$25350.

Monthly installment is 1% of the left over amount.

left amount=169000-25350=$143650.

Monthly installment being =143650*1/100

=$1436.5

Total amount paid by Sipho=deposit +installment amount  * numberof installments

Number of installments=12*9

=108

Total amount=25350+1436.5*108

=25350+155142

=$178492

Hence deposit is $25350, monthly payment being $1436.5, total amount be $178492.

Learn more about installments  at brainly.com/question/2151013

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