M/s Daya Finance Ltd charges 9% p.a. for a period of 5 years on car loans. If you want to Durchase car costing Rs. 620000/- against 12% down payment, calculate monthly repayment amount. Hint: Use PMT(OJ What rate of interest should the finance company charge ifit wants to get the monthly repayment as Rs.20000/-? [Hint: Use Goal Seek feature]
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