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9 - Mathematics M1.CA.2 - Hire Purchase & Mortgages

⭐ +190 XP
  • ✓solve problems involving payments by instalments as in the case of hire purchase and mortgages
⏱ 0 mins🎯 38 marks
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Aunty Cynthia in Spanish Town wants a 65″ Smart TV. The shop says: 'Cash $80,000 OR $10,000 deposit + 24 monthly payments of $4,000.' Which option saves more money? Hire purchase looks easy, but it almost always costs MORE in the end. CSEC asks you to do the math. Memory Hook: DIM. Deposit + Instalments × Monthly = Total Hire-Purchase Price.
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Which statement do you think best describes cash price?

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💡Engage
Aunty Cynthia in Spanish Town wants a 65″ Smart TV. The shop says: 'Cash $80,000 OR $10,000 deposit + 24 monthly payments of $4,000.' Which option saves more money? Hire purchase looks easy, but it almost always costs MORE in the end. CSEC asks you to do the math. Memory Hook: DIM. Deposit + Instalments × Monthly = Total Hire-Purchase Price.
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Lesson progress0 / 38 marks
✓ 0 correct✕ 0 mistakes0 / 27 answered

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