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This is the finance paid for in installments by the business. The item is not owned until all payment has been made.

Question

This is the finance paid for in installments by the business. The item is not owned until all payment has been made.
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Solution 1

This type of financing is known as Hire Purchase. Here's how it works:

  1. The business chooses the item they want from a supplier.
  2. The finance company buys the item on behalf of the business.
  3. The business makes regular payments to the finance company. These payments cover the cost of the item Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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