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Mr. Saad wants to lease new Corolla ATLAS 1.8 car. The total price of the car including insurance is Rs. 4.9 million. He is required

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Mr. Saad wants to lease new Corolla ATLAS 1.8 car. The total price of the car including insurance is Rs. 4.9 million. He is required to make a 15% down payment immediately. How much he will be required to pay at the end of each month if the lease contract matures in 5 years and current interest rate is 13% per annum compounded annually. (9 marks)

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