What are monthly repayments?

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Solution

Monthly repayment is the amount of money that a borrower pays to the lender every month in order to ensure that the loan is paid off with interest within the specified time.

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Find: ( a ) How much much amount Prathibha should repay the finance company at the end of five years. ( b ) her equal monthly repayments?

Sudhakar borrows $R s . 15000$ from a bank to renovate his house. He borrows the money at $9 %$ p.a. simple interest over $8$ years. What is his monthly repayment.

Q. A monthly installment of Rs. 180 is required to be paid for repayment of an interest free loan in 40 months. If it is decided to pay it in 30 months, how much will be the monthly installment in rupees?

Q. Shalini took a loan of ₹80,000 from the bank. She paid ₹4,000 extra to the bank on the loan repayment. Find the monthly installment that she paid for one year?

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What are monthly repayments?

Monthly repayment is the amount of money that a borrower pays to the lender every month in order to ensure that the loan is paid off with interest within the specified time. Hope this helps :)

Find: ( a ) How much much amount Prathibha should repay the finance company at the end of five years. ( b ) her equal monthly repayments?

Monthly repayment is the amount of money that a borrower pays to the lender every month in order to ensure that the loan is paid off with interest within the specified time.

Hope this helps :)