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(read more)Eg, for people who obtain RS. ten,00,000 from the financial at 10.5% annual attract for a period of 10 years (i.age., 120 months), upcoming EMI = RS. 10,00,000 * 0.00875 * (step 1 + 0.00875) 120 / ((1 + 0.00875) 120 1) = RS. 13,493. we.e., you are going to need to spend RS. thirteen,493 for 120 weeks to settle the complete amount borrowed. The total amount payable will be RS. 13,493 * 120 = RS. 16,19,220 complete with RS. six,19,220 due to the fact appeal towards the mortgage.
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