James will pay 423.11 term installment if if he pays 12% pa simple interest and repairs over a period of 18 months.
According to the given question.
Cost of the gas grill is 7800.
Amount of money paid by James is 1000.
Rate of the installment is 12%.
And time period is 18 months.
Therefore,
Term installment
= [(7800 - 1000)( 1 + 12%)]/18
= [(7800 - 1000)( 1 + 0.12)]/18
= 423.11
Hence, James will pay 423.11 term installment if if he pays 12% pa simple interest and repairs over a period of 18 months.
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