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Question No: 03. hishb59540 This is a subjective question, hence you have to write your answer in the Text-Field given below. 78349 Mr. Rakesh
Question No: 03. hishb59540 This is a subjective question, hence you have to write your answer in the Text-Field given below. 78349 Mr. Rakesh decided to purchase a machinery which costs Rs.40,00,000. He approached SBI for loan. As per the loan agreement, the borrower should bring 25% of the cost of the house as margin money and the remaining would be lent by the bank at 10% p.a for 7 years. Compute Equated Annual Installment 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. (6 Marks)
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