Mr. Dev wishes to purchase an AC for Rs 45,000 with a down payment of Rs 5000 and balance in EMI for 5 years. If Bank charges 6% per annum compounded monthly then monthly EMI i s: ( use $\frac{0.005}{1-(0.005)^{-60}}= 0.0194$ )

Rs 776 Rs 700 Rs 737 Rs 673

Rs 776