Question: Ramesh is purchasing his first car. The car costs 10,00,000. They need to pay 20 per cent down payment and refinance the rest of the

Ramesh is purchasing his first car. The car costs ₹10,00,000. They need to pay 20 per cent down payment and refinance the rest of the amount. He is considering a fixed rate 30-year mortgage at a 5.25 per cent APR with monthly payments. How much will his first monthly payment be?

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