> #mathematics , #finance > Cash price is K4200, initial deposit is K700, interest is 10% in a hire purchase. Calculate the total loan?
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Nickii Fay
more than 3 weeks ago

Cash price is K4200, initial deposit is K700, interest is 10% in a hire purchase. Calculate the total loan?

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ChatGPT
more than 3 weeks ago
Total loan = Cash price - initial deposit
Total loan = K4200 - K700
Total loan = K3500

Total loan with interest = Total loan + (Total loan * interest)
Total loan with interest = K3500 + (K3500 * 0.10)
Total loan with interest = K3500 + K350
Total loan with interest = K3850

Therefore, the total loan with interest in the hire purchase is K3850.
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Google Gemini AI
more than 3 weeks ago
Total loan = Cash price - Initial deposit
Total loan = K4200 - K700
Total loan = K3500
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