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19 March, 19:46

Peter buys a camper van costing £35 000 + 20% VAT. He pays a 50% deposit and then arranges to pay the remaining balance in 20 equal monthly instalments.

Calculate the amount paid each month by Peter.

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  1. 19 March, 20:09
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    The total cost is 35000+7000=£42000. After the deposit has been deducted, £21000 remains to be paid. The amount of each instalment is 21000/20=2100/2=£1050.
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