SBI Ltd has made an interesting offer on loans for all first$-$time buyers of a house having the following particulars:

Loan amount: Rs $1,750,000$ 

Rate of interest: $4\mathrm{.}8\%$ per annum $($Annualised Percentage Rate$)$ 

Maturity period: $24$ years

Calculate the monthly payment.

Answer rating: 100% (QA)

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