
Understanding Higher Purchase Agreements

Interactive Video
•
Mathematics
•
10th Grade
•
Hard

Thomas White
FREE Resource
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25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a higher purchase agreement?
A method of buying stocks
A short-term loan allowing purchase before full payment
A type of insurance policy
A long-term loan for buying property
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is commonly bought on higher purchase agreements?
Books
Groceries
Clothing
Household appliances
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest on a higher purchase agreement typically calculated?
Compound interest
Simple interest
No interest
Variable interest
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a deposit in a higher purchase agreement?
To serve as an upfront payment
To reduce the interest rate
To increase the total loan amount
To eliminate monthly payments
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the lawn mower example, what was the initial cash price of the mower?
15,041 Rand
13,890 Rand
10,870 Rand
9,783 Rand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the interest rate applied to Ruan's higher purchase agreement?
16%
14%
12%
10%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much was Ruan's monthly repayment before insurance?
400 Rand
397.89 Rand
350 Rand
385.89 Rand
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