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     EduGorilla 
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    Ravi has planned to buy a car that has a cost of INR 1,500,000. He has decided to make a down payment of INR 500,000. The remaining amount will be paid over a period of 5 years by making equal annual payments at an annual compound interest rate of 10%. What will be her annual payment (approx.)? (Given PVIFAn=5, r=8%= 3.99)

    Options :-

    1. 300,000
    2. 320,000
    3. 250,000
    4. 200,000
    5. 180,000
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Reply To: Ravi has planned to buy a car that has a cost of INR 1,500,000. He has decided to make a down paymen….
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