Sunday, November 6, 2011

Ahmad purchases a car from a leasing company?

Ahmad purchases a car from a leasing company. The current worth of the car is Rs. 600,000. The compound rate of interest is such that any principal, compounded annually, is doubled in 5 years. Find the amount of each installment if each installment is to be paid at the end of every month and the number of installments is 48.

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