Homework answers / question archive / Toyota Oman is announced Ramadan offer to its customers for a limited period of time

Toyota Oman is announced Ramadan offer to its customers for a limited period of time

Economics

Share With

Toyota Oman is announced Ramadan offer to its customers for a limited period of time. The offer is available only for citizens and residents with stable monthly income. The offer is part of the company's sale promotion campaign in the Holy month. The following were offered to you; i) Toyota Corolla 2019, 2.0L cash price OMR 7,500; down payment OMR 1000 and the balance will be paid with 24 equal monthly payments of OMR 370. If you are interested to buy the car, how much you have to pay as deferred payment for the car. ii) Toyota Corolla 2019, 2.0L cash price OMR 7,000; down payment OMR 2,000 and the balance will be paid with 24 equal monthly payments of OMR 140. If you are interested to buy the car, how much you have to pay as deferred payment for the car ii) Compare the finance charges of the above two options and suggest the best one for the car buyers. iv) Mr. Anis is a businessman decided to buy the same car with ready cash(OMR 6000), since his income was not regular. So he borrowed money from a moneylender at the simple interest rate of 7% for two years. How much he has to pay after two years to the money lender.