43. 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?
43. 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?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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43. 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?
44. Suppose you are accepting bank offer as given in Q No.43 but want to amortize whole loan in five years. What monthly installment will be offered by bank?
45. Suppose you are planning to accept bank offer as given in Q No.43 but instead of monthly payment plan, you are interested in quarterly installment. Compute the amount you will pay after each quarter.
46. Suppose you are planning to take this car through bank loan but you already have saving of Rs.150,000 which you paid to bank as down payment and rest you are agree on monthly installment at 18%. Compute monthly payment.
47. Repeat Q No.43 to Q No.46 assuming bank is following annuity due condition.
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