Clarke Huang
05/31/2024 · High School
Sipho bought a brand-new Ford Ranger in April 2015 on hire purchase at a cost of R379 000 . He agreed on paying \( 15 \% \) deposit and took out a loan for the remaining balance at an interest rate of \( 22,5 \% \). 4.2.1 How much deposit did Sipho pay? 4.2.2 Hence, calculate the initial value of the loan.
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The deposit Sipho paid is R56,850. The initial value of the loan is R322,150.
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