Topic Content:
- Instalment Buying
Some people prefer to pay for expensive goods in instalments, which means that they make small payments over a period of time. The final cost when paying in instalments is usually higher when compared to paying for the item immediately.
Example 1.4.1:
The cost of a PS5 Controller is either ₦65 000 in cash or a deposit of 10% of the cash price and 12 monthly payments of ₦5 750. Find the difference between the instalment price and the cash price.
Solution
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