Question: QUESTION 1 Thandi decides to buy a dishwasher based upon the advertisement below. 1.1 Come to Best Buy Dealers for the best deals in town

QUESTION 1 Thandi decides to buy a dishwasher based upon the

QUESTION 1 Thandi decides to buy a dishwasher based upon the advertisement below. 1.1 Come to Best Buy Dealers for the best deals in town BEST BUY DEALERS: Dish Washer Cash price R2 699,00 OR ONLY 10% deposit plus 24 equal monthly instalments 1.1.1 Suppose Thandi decides to buy the dishwasher using the instalment option. (a) What is the balance owing after paying the deposit? (b) Calculate the total cost of the dishwasher. 1.1.2 Suppose Thandi takes a loan from ABC Bank for the full cash price of the dishwasher. She is charged interest of 18% p.a. compounded monthly and agrees to repay the loan over two years in equal monthly instalments. Use the formula A = P(1 + i)" to calculate the total amount to be paid back, where: A = total amount to be paid back P = loan amount i = monthly interest rate n = number of months over which the loan will be taken

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