Statistics & Applications > Financial Math
Medium
applied
Mr. X wishes to purchase a flat for Rs. 44,65,000 with a down payment of Rs. 10,00,000 and balance in equated monthly installments (EMI) for 25 years. If the bank charges 6 % per annum compounded monthly, the EMI is: [Given: $(1.005)^{300} =4.4650$]
✅ Correct Option: 3
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