EXAMPLE 6.2 A company is planning to purchase an advanced machine centre. Three original manufacturers have responded to iis lender whose particulars are tabulated as follows: Manufacturer Down payment No. of installments Yearly equal installment (Rs.) 2,00,000 3,00,000 1,50,000 15 (Rs.) 5,00,000 4,00,000 6,00,000 1 2 3 15 15 72 Engineering Tronomics Determine the best alternative based on the annual equivalent method by assuming i = 20%, compounded annually