Question: Mr. Mannan borrow Tk. 5,00,000 from a bank for purchasing a shop. If he pays annual equal installments for 10 years at 8% interest rate

Mr. Mannan borrow Tk. 5,00,000 from a bank for purchasing a shop. If he pays annual equal installments for 10 years at 8% interest rate on outstanding balance. Then what is the installment amount if he make installment at the end of each year?

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