a car is purchased on hire - purchase . the cash price is $ 25 000 and the terms are a deposit of 10 % of the price , then the balance to be paid off over 60 equal monthly installments . interest is charged at 12 % p . a . what is the monthly installment ?
"explanation : cash price = $ 25 000 deposit = 10 % ã — $ 25 000 = $ 2500 loan amount = $ 25000 â ˆ ’ $ 2500 number of payments = 60 = $ 22500 i = p * r * t / 100 i = 13500 total amount = 22500 + 13500 = $ 36000 regular payment = total amount / number of payments = 600 answer : e"
add(divide(multiply(multiply(25, const_1000), subtract(const_1, divide(10, const_100))), 60), multiply(divide(divide(12, const_100), 12), multiply(multiply(25, const_1000), subtract(const_1, divide(10, const_100)))))