mrs naidoo buys furniture for her new house at a cost of r58 000. she pays 20% in cash and the balance through hire purchase loan with inerest rate of 14% per annum over four years. she also has to pay 3% per annum on the purchase price for insurance. this is added to her monthly repayments.
a) calculate the total amount of money that she has to pay on the loan including the interest over four years.
b) calculate the amount of money that she pays for insurance over four years.
c) calculate the monthly payments including insurance.