Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. Â What is the total cost of the car?

Car is purchased on hire-purchase. The cash price is $21 000 and the t

1.	Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. Â What is the total cost of the car?
A.	30.24
B.	31.24
C.	33.24
D.	32240
Answer» E.