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What is the cost of chosen ring

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Suppose, you are getting married and you want to buy a diamond ring for your fiance. You liked a ring in diamond world. When you talked to the shopkeeper, he said you can buy the ring in semi-annual instalments of BDT 25,000 each with the first payment due now, for next 4 years. If the interest rate is 9% per year, what is the cost of your chosen ring?

Reference no: EM132689246

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