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You wish to purchase a used ultra-sports car on hire purchase. The price is N$1...
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You wish to purchase a used ultra-sports car on hire purchase. The price is N$120 000. Vekfin, a vehicle finance company, will provide finance over five years at a nominal rate of 12% per annum on 80% of the price. Instalments are payable monthly in advance. The monthly instalment is:
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