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Patel is investing in rental properties and purchases a flat for Rs . 2 0 , 0 0 , 0 0 0 . She finances

Patel is investing in rental properties and purchases a flat for Rs.20,00,000. She finances the purchase with a mortgage at an annual interest rate of 8%, compounded monthly, over 5 months. Estimate the monthly payment using the reducing balance method and prepare an amortization table showing the breakdown of each periodic payment. (The rate of interest is to be rounded off to 3 decimal places).

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