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After five years from now Mr. Ram will receive an annual payment Rs. 25,000 per month for 15 years as per the terms of payments
After five years from now Mr. Ram will receive an annual payment Rs. 25,000 per month for 15 years as per the terms of payments from an insurance policy. How much can he borrow now at a rate of 15% interest so that the borrowed amount can be repaid with 40% of the pension amount? Note: The interest will be accumulated till the first payment is received.
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