1.
Future Value | |
Present Value | 0.00 |
Payment | 164.58 |
Interest Rate | 7.90% |
Years(NPER) | 10 |
Future Value | $29,941.87 |
2.If Monika pay $ 164.58 per month for 10 years ( for 120 months tenure) she is paying only interest portion , she is not paying any principal in this EMI.
Proof : Principal : 25000, Rate of Interest : 7.90% /12 ( since paying monthly instalment)
=25000*7.90%/12
=164.58
3. If Monika wants to pay her debt in 10 years she has to pay $ 301.95 per month.
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