Khan wants to buy some office furniture that is valued at $7000.
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- A store requires 25% deposit. Calculate the deposit. (1 mark)
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The balance is to be paid in 24 equal monthly instalments. No interest is charged.
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Determine the amount of each instalment. Write your answer in dollars and cents. (1 mark)
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- A store requires 25% deposit. Calculate the deposit. (1 mark)
Another store offers the same $7000 office furniture for $500 deposit and 36 monthly instalments of $220.
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- Determine the total amount paid for the furniture at this store. (1 mark)
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Calculate the annual flat rate of interest charged by this store.
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Write your answer as a percentage correct to one decimal place. (2 marks)
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- Determine the total amount paid for the furniture at this store. (1 mark)
A third store has the office furniture marked at $7000 but will give 15% discount if payment is made in cash at the time of sale.
- Calculate the cash price paid for the furniture after the discount is applied. (1 mark)
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