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Peter buys a campervan costing £35,000 + 20% VAT.

He pays a 50% deposit and then arranges to pay the remaining balance in 20 equal monthly installments.

Calculate the amount paid each month by Peter.

saim4  Jun 18, 2017
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Peter buys a campervan costing £35,000 + 20% VAT.

He pays a 50% deposit and then arranges to pay the remaining balance in 20 equal monthly installments.

Calculate the amount paid each month by Peter.

 

35,000 x 1.20 =42,000 total cost of the camper van including 20% VAT.

42,000 / 2 = 21,000 Amount to be paid in monthly installments.

Since he is not charged interest, then his monthly payments would be:

21,000 / 20 =1,050 Pounds per month for 20 months.

Guest Jun 18, 2017

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