Kofi wants to buy a new car but does not have enough money saved.
The price of the car he wants to buy is £16,000.
Kofi sees the following offer on the car he wants to buy.
Pay 15% of the price of the car now and then ? equal monthly payments of £300.
The number of equal monthly payments is missing from the offer.
Work out the number of monthly payments if the total cost of the car to Kofi is £17,400.
Answer:
First work out 15% of the original price by multiplying by the percentage multiplier of 0.15 to get
£2400
Then subtract this from the total price the motorist pays
£17400 – £2400 = £15000
Next divide this value by £300 to work out how many monthly payments the motorist will pay
£15000 / £300 = 50 monthly payments