Answer to Question #258953 in Finance for Imalka

Question #258953

Nihal is borrowing Rs. 50,000 to buy ABC assets. If he pays equal installments for 25





years and 4% interest on the outstanding balance, what is the amount of installment?





What shall be the amount of installment if quarterly payments are required to be made?

1
Expert's answer
2021-10-31T18:28:16-0400

Calculation:


If yearly payments are required to be made the amount of installment=Rs 3200.60

If quarterly payments are required to be made the amount of installment=Rs 793.29


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