Question:
A loan of ₹200000 at the interest rate of 6% p.a. compounded monthly is to be amortized by equal payments at the end of each month for 5 years. The monthly payment is:
[Given (1.005)-60 = 0.74137220]
A loan of ₹200000 at the interest rate of 6% p.a. compounded monthly is to be amortized by equal payments at the end of each month for 5 years. The monthly payment is:
[Given (1.005)-60 = 0.74137220]
[Given (1.005)-60 = 0.74137220]
Updated On: Dec 20, 2024
- ₹1,866.57
- ₹4,886.57
- ₹3,866.57
- ₹2,866.57
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The Correct Option is C
Solution and Explanation
The correct option is(C):₹3,866.57
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