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# c  

## THE INSTITUTE OF MANAGEMENT SCIENCES

Pak-AIMS  
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ASSIGNMENT # 1
MATHS ² II

SUBMITTED TO:

SIR SARFARAZ

SUBMITTED BY:

- IMRAN TARIQ
- SHOAIB TAUSEEF
- àASSAAN FAKàAR
Car Financing (Mehran)
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Calculation:

Markup = 18.62%

## Financial amount per year = 399,200/5 = 79,840/-

Application of Annuity:
I= 0.1862 n= 5
Formula:

S (5)= (1+i)^n ʹ 1/ i

S (5) = 7.2422

## = Financial amount per year x S (5)

= 79840 (7.24223)

= 578217.248/-

## = Yearly installment after interest ʹ yearly installment before interest

= 578217.248 ʹ 399200

= 179,017.248/-

## = Financial amount per year + Additional amount per year

= 79840 + 35803.44

= 115,643.4496/-

Calculation of Insurance:

## 5th year: 6.5% of total value = 6.5% of 499,500= 32,467.5/-

otal Payment per year:

## 5th year: 115643.4496 + 32467.5 = 148,110.9496/-

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