Students will learn to calculate hire purchase price by using the formula:

Hire Purchase Price (HPP) = Deposit + Total Monthly Installments

Other Hire Purchase Formulas;

Total Monthly Installments (TMI): Monthly Installment × Number of Months
Hire Purchase Interest / Extra Cost: Hire Purchase Price - Cash Price
Balance to be Paid: Cash Price - Deposit
Monthly Installment: (Hire Purchase Price - Deposit) / Number of Months