Q1. (10 marks) You are considering taking a housing loan. The loan amount is INR 40 lakhs. If the loan period is 20 years and the annual rate of interest is 9.20 %, what would be your monthly instalment? What will be the % change in EMI if the loan Deriod increases to 25 years? (all answers should be correct in INR and correct to two decimals.)

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