Consumer Math & Graphs

Consumer Math & Graphs

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Grade 9


Trinity Term Project




Formula List:



One of the first things every high school graduate thinks about is their first car.



Most often, they have to resort to credits and payment plans, due to limited funds.

For Joshua, he decided to accept a HIRE PURCHASE OFFER on the following terms:


Deposit ¼ of the cash price

Pay $398 monthly for 5 years

iii) Give ONE(1) important condition Joshua must note in regards to OWNERSHIP and hire purchase agreements. [1]

i) Calculate the hire purchase price. [2.5] ii) Calculate the % hire purchase charged. [1.5]

$20,000 CASH






1 – Hire Purchase Agreement




Another option is to loan the money from a bank or finance company and pay COMPOUND INTEREST. [4]



Working Answer
Loan (Principal)
Amount repaid after 3 years
Compound Interest Charged

2 – Interest Payments



IMPORTANT: Most banks, like Banco Popular, will only finance (loan) 90% of the cost of the car, so

Joshua will have to come up with the rest money on his own.


Complete the table below to show: the loan amount (principal); the amount paid back and the compound interest charged given that the compound interest rate is 11.95 % p.a. for a period of 3 years.














$20,000 CASH






Thursday 10th June 2021