An investor deposits $18 000 with a finance company paying compound interest on a monthly basis at 6% per annum. Calculate the interest received at the end of 5 years, correct to 2 decimal places.[2]
The price of a washing machine is $900 before discount. After selling the machine at a 20% discount, the seller still makes a profit of 25%. Calculate the cost price of the washing machine.[3]
The price of a gaming laptop is $2 999. John buys this laptop on hire purchase after putting a down payment of $600. For the remaining amount of the laptop, John has to pay the seller a monthly instalment of $120 over 2 years. Calculate the interest rate charged by the seller.[3]
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