PV of loan =9,000,000
Number of Periods =25*12 =300
Rate per month =6.24%/12
Monthly payment =PV/((1-(1+r)^-n)/r)
=9000000/((1-(1+6.24%/12)^-300)/(6.4%/12)) =59314.62 (Option b is
correct option)
PMT =70000
Number of Periods =25*12 =300
Rate per month =6.24%/12
PV of loan =PMT*((1-(1+r)^-n)/r)
=70000*((1-(1+6.24%/12)^-300)/(6.24%/12)) =10621326.71 (Option c is
correct option)
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