Question

The hire purchase price for a T.V set is made up of $4,000 deposit and 18 equal monthly installments of $1,200 each. Amos was given a discount of 20% on the hire purchase price on paying the cash for the T.V set. How much did he pay?
I usually don't answer questions when students keep switching names, but I was curious.

What is a hire purchase, not familiar with it.
Is it just an instalment plan?
Also, are these regular US or CND dollars ?
The costs appear exorbitant.

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