The marked price of a bicycle is $ 6245. Dan bought the bicycle on cash terms and was given a 10% discount. Dave bought the same type of bicycle on hire purchase terms whereby he paid a deposit of $ 3000 and 12 equal monthly installments of $ 500. How much more than Dan did Dave pay for his bicycle?

Answer 1

Dan:
Cost = 0.90 * 6245 = $5620.50

Dave:
Cost = 3000 + 12*500 = $9,000

9000 - 5620.50 =