c) This same trader has decided to set up a sinking fund for the purpose of purchasing a truck in 2 years’ time. It is expected that the truck will cost GH¢30,000. If the fund earns 10% interest per year compounded quarterly, determine the size of each (equal) quarterly installment the trader should pay into the fund. Please help me with part (c).......Thanks
A trader ordered x number of pen drives for GH¢48,000.00. She found that 40 of them
were defective after taking deliveries of the items. She then sold all the remaining pen
drives. The selling price of one pen drive was GH¢100.00 more than the cost price.
Find in terms of x ;
(i) the cost price of one pen drive
(ii) the number of pen drives she sold
(iii) the selling price of one pen drive
(iv) an expression for the total sum that she received from the sale
b) If she made a profit of GH¢12,000.00 from the sales, Find;
(i) the number of pen drives she originally bought
(ii) the cost price for a pen drive.
c) This same trader has decided to set up a sinking fund for the purpose of purchasing a
truck in 2 years’ time. It is expected that the truck will cost GH¢30,000. If the fund
earns 10% interest per year compounded quarterly, determine the size of each (equal)
quarterly installment the trader should pay into the fund.
Please help me with part (c).......Thanks
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