A young motorist purchases a second–hand car from Honest Fred's Car Dealership. The price of the car is R10 000, and the following means of payment is agreed upon: 2. A deposit of R5000 is to be paid at once, with the balance to be repaid by means of an hire-purchase agreement. The terms of the hire-purchase agreement specify interest at 15% p.a. simple, with 2 equal annual instalments to be paid by the purchaser, the first to be made in one years time. (a) Find the amount of the annual instalment. (b) What is the effective compound rate of interest p.a. being charged by Honest Fred.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
May I please receive assistance with questions 2a) and 2b)
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