Mathematics for FinanceMTP Nov 19Question 1503 of 422
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Anil bought a motor cycle costing $1,30,000$ by making a down payment of $30,000$ and agreeing to make equal annual payment for five years. How much would be each payment if the interest on unpaid amount be $10\%$ compounded annually? $[P(5, 0.10) = 3.7908]$.

Options

A$28379.70$
B$26300.70$
C$26500.70$
D$26379.70$
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Correct Answer

Option b$26300.70$

All Options:

  • A$28379.70$
  • B$26300.70$
  • C$26500.70$
  • D$26379.70$

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