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Mr. Rohan decided to purchase a car which costs Rs. 40,00,000. He approached SBI for cr loan. As per the loan agreement, the borrower should
Mr. Rohan decided to purchase a car which costs Rs. 40,00,000. He approached SBI for cr loan. As per the loan agreement, the borrower should oring 30% of the cost of the house as margin money and the remaining would be lent by the bank at 9% p.a for 3 years. Compute Equated Annual nstallment EAls to be paid by Mr. Rohan. And also show the segregation of EAI into principal and interest for the 3 years of loan repayment. marks)
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