Mathematics for FinanceMTP May 20Question 1508 of 422
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A man purchased a house valued at $3,00,000$. He paid $2,00,000$ at the time of purchase and agreed to pay the balance with interest at $12\%$ per annum compounded half yearly in $20$ equal half yearly instalments. If the first instalment is paid after six months from the date of purchase then the amount of each instalment is.

Options

A$8,718.45$
B$8,769.21$
C$7,893.13$
DNone of these
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Correct Answer

Option b$8,769.21$

All Options:

  • A$8,718.45$
  • B$8,769.21$
  • C$7,893.13$
  • DNone of these

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