Question

Peter buys a camper van costing £35000+ 20% VAT he pays a 50% deposit and then arranged to pay the remaining balance in 20 equal monthly instalments calculate the amount paid each month by Peter

Answer 1

35,000 + 20% VAT....
35,000 * 1.20 = 42,000

he paid a 50% deposit......0.50(42,000) = 21,000
leaving : 42,000 - 21,000 = 21,000

he paid remaining balance is 20 equal monthly installments..
21,000 / 20 = $ 1050 per month <===