Mr. Njoroge buys a car costing Kshs 960,000 using installment plan. The plan consists of 30 monthly.
Mr. Njoroge buys a car costing Kshs 960,000 using installment plan. The plan consists of 30 monthly. Payment in the amount of Kshs 40,000 plus 2%interest on the unpaid balance for that month. Payment commences at end of the first month.
(i) Find the amount of the first , second and third installment (6mks)
(ii)Find the amount of the 30th payment . (4mks) (iii) Calculate the total amount that he paid for the car. (5mks) b) i) A Company adistises a lone at 121/2 nominal , what is the effective rate if compounding is done after every two months (3mks).
(ii) Solve the given inequality -4x+10
