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Submitted To: Submitted By:

Sushil Mohanty Suresh Patel


Sachin Nandha
ASSET VALUE 67695

DOWN PAYMENT 24405


LOAN AMOUNT 43290
EMI 2434
LOAN PERIOD 24 EMI (2 YEAR)
RATE OF RETURN 13.50%
Total Payment = 2434 X 24
= 58416
Interest = Loan Amt – Total Payment
= 43290 – 58416
= 15126
 43290 X 2 years X Rate of Interest = 15126

ACTUAL FLAT RATE OF


INTEREST IS 17.47%
2434 X 12 X I/d^12 X PVIFA (I,2)
=43290

EFFECTIVE RATE OF INTEREST =


40%
 ANNUALINSTALLMENT EQUIVALENT TO
THE VALUE OF THE 12 MONTHLY
INSTALLMENT

=2434 X 12 = 29208
I/d12= FOR 40% = 1.2055
= 29208 X 1.2055 = 35210
ANNUAL INTEREST REBATE = 35210 - 29208
= 6002

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