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You are planning to take a car, its cash price is Rs.800, 000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank?

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter6: Using Credit

Section: Chapter Questions

Problem 8FPE

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Q no.1You are planning to take a car, its cash price is Rs.800, 000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank?

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