Subject: mathqa
Question: a car is purchased on hire - purchase . the cash price is $ 24 000 and the terms are a deposit of 10 % of the price , then the balance to be paid off over 60 equal monthly installments . interest is charged at 12 % p . a . what is the monthly installment ?
Option: 
A: $ 576
B: $ 587
C: $ 555
D: $ 503
Answer: A