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Financial Maths, STD2 EQ-Bank 4 MC

David is purchasing a motorcycle for sale at $15 600. The finance terms are weekly repayments of $180 for 2 years.

What is the total amount of the repayments?

  1. $4320
  2. $8640
  3. $18 720
  4. $19 920
Show Answers Only

\(C\)

Show Worked Solution

\(\text{Number of weeks in 2 years:}=2\times 52=104\)

\(\text{Total repayments}=104\times $180=$18\,720\)

  
\(\Rightarrow C\)

Filed Under: Purchasing Goods, Purchasing Goods Tagged With: Band 3, smc-6278-35-Buy Now/Pay Later, smc-6517-35-Buy Now/Pay Later

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