In the following project, we will calculate the amount of annuity for car

loan payment .
Here, we need to find the annuity of Rs. 50,000 which is payble at the
end of each year for 3 years at the rate of interest of 7% per annum
compounded annually.

Here we will use the following formula : S = R[(1 + I)^n - 1/i] R=

I=
n=
1.) ( 1 + I )^n 1.225043 S=
2.) ( 1 + I )^n - 1 0.225043
3.) ( 1+ I )^n - 1/i 3.2149
4.) R[(1 + I)^n - 1/i] 160745

AMOUNT OF ANNUITY 160,745

 ANNUITY
y for car

e at the
num

50,000
0.07
3
amount of annuity