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9 June, 13:10

Harry buys a sofa set that costs$2,000. he pays for it with 12 month installments. how much will he pay each month? if he has to pay5%in interest how much will he pay in all for the sofa set?

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Answers (2)
  1. 9 June, 14:14
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    166.667 per month plus 8.33 interest=175.01
  2. 9 June, 15:05
    0
    Interest = 5% x 2000 = 0.05 x 2000 = $100

    Total amount = $2000 + $100 = $2100

    Month instalment = $2100 : 12 = $175

    Answer: $175 each month. Total amount paid = $2100
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