Social Studies, 14.01.2021 08:30, mpateltx

Meghana has taken a loan of 6 lakhs from the bank to purchase a house. The annual interest rate on the loan is 14% and the loan is to be repaid in 12 years in monthly
instalments. Meghana had to submit to the bank documents showing her employment
records and salary before the bank agreed to give the loan.
Analyse the loan information given above considering one of the following
correct option
A
Interest on loan
B.
Informal source of loan
C.
Formal source of loan
D.
None of the above

please help

Answers: 2

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Meghana has taken a loan of 6 lakhs from the bank to purchase a house. The annual interest rate on...