Q45. Suppose you are planning to accept bank offer as given in below Reference No.01 but instead of the monthly payment plan, you are interested in quarterly installment. Compute the amount you will...

Q45. Suppose you are planning to accept bank offer as given in below Reference No.01 but instead of the monthly payment plan, you are interested in quarterly installment. Compute the amount you will pay after each quarter.
A) 50,816.64

Reference No.1. You are planning to take a car, its cash price is Rs.800, 000. Bank is offering seven-year monthly payment plan at 18%. How much monthly installment will be offered by bank?