10 October, 02:34
Mrs Gibb bought a car for $36 000. She paid a deposit of 1/6 of the total value and decided to pay the balance over a period of 24 months. How much does she have to pay each month?
10 October, 04:29
The amount that Mrs. Gibb was paying off with her monthly payments was
$36,000 - (1/6) * 36,000 = $30,000
That amount divided into 24 equal payments is
$30,000:24 = $1250
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» Mrs Gibb bought a car for $36 000. She paid a deposit of 1/6 of the total value and decided to pay the balance over a period of 24 months. How much does she have to pay each month? (a) $1250 (b) $6000 (c) $30000 (d) $8560