a car is purchased on hire - purchase. the cash price is $ 24 000 and the terms are a deposit of 10 % of the price, then the balance to be paid off over 60 equal monthly installments. interest is charged at 12 % p. a. what is the monthly installment? Pick one.
A) $ 503
B) $ 504
C) $ 555
D) $ 576
E) $ 587
<gadget id="calculator">24 * 1_000</gadget>
<output>24_000</output>

<gadget id="calculator">10 / 100</gadget>
<output>1/10 = around 0.1</output>

<gadget id="calculator">1 - (1/10)</gadget>
<output>9/10 = around 0.9</output>

<gadget id="calculator">24_000 * (9/10)</gadget>
<output>21_600</output>

<gadget id="calculator">21_600 / 60</gadget>
<output>360</output>

<gadget id="calculator">12 / 100</gadget>
<output>3/25 = around 0.12</output>

<gadget id="calculator">(3/25) / 12</gadget>
<output>1/100 = around 0.01</output>

<gadget id="calculator">(1/100) * 21_600</gadget>
<output>216</output>

<gadget id="calculator">360 + 216</gadget>
<output>576</output>

<result>D</result>
a car is purchased on hire - purchase. the cash price is $ 24 000 and the terms are a deposit of 10 % of the price, then the balance to be paid off over 60 equal monthly installments. interest is charged at 12 % p. a. what is the monthly installment?
add(divide(multiply(multiply(24, const_1000), subtract(const_1, divide(10, const_100))), 60), multiply(divide(divide(12, const_100), 12), multiply(multiply(24, const_1000), subtract(const_1, divide(10, const_100)))))
"explanation : cash price = $ 24 000 deposit = 10 % ã — $ 24 000 = $ 2400 loan amount = $ 24000 â ˆ ’ $ 2400 number of payments = 60 = $ 21600 i = p * r * t / 100 i = 12960 total amount = 21600 + 12960 = $ 34560 regular payment = total amount / number of payments = 576 answer : d"