An automobile company recently advertised its car for a down payment of Rs. 1,50,000. Alternatively,...
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Accounting
An automobile company recently advertised its car for a down payment of
Rs. 1,50,000. Alternatively, the car can be taken home by customers without
making any payment, but they have to pay an equal yearly amount of
Rs. 25,000 for 15 years at an interest rate of 18%, compounded annually.
Suggest the best alternative to the customers.
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