I am an avid reader of your magazine and especially like the book review section . However, most of the books that you select are by foreign authors and are expensive. Besides, they are rarely available at ordinary book stores. Please try to include the books that are easily accessible or can be bought over the Internet.
— Sandeep Kumar, Amritsar
In a globalised world, a book on finance by foreign authors is relevant for Indian readers too. Moreover, very few Indians have written on this subject. All the books reviewed by us have been bought from local book stores. It is possible that some of them are not available in your city. You should, however, be able to get the books on www.amazon.com. Alternatively, you can contact us for details of the bookseller for specific books.
I am a regular reader of Money Today. In your latest issue, you have given a formula for calculating EMIs. But you have not explained what the variable “R” stands for. Could you explain it again and reprint the formula as it is of great utility to many people.
— Prashant B. Patne, e-mail
Thank you for pointing out the oversight. We are providing the formula again in a way that would make it easier for you to understand.
EMI = PV/A
where A = 1-(1+i)-n/i
PV is the present value of annuity or amount of home loan
i is the interest rate
n is the tenure (in months)
I am a middle-level manager and pay an income tax of Rs 17,000 per month. I am enclosing the details of my salary structure. Please advise me on restructuring my salary so that I can reduce my tax burden.
— Sandeep Sharma, e-mail
We will send your query to our tax experts. Their response will be sent to you by e-mail in a few weeks.
Your story on real estate discounts was on the mark (Customer is King, Again). I have been hunting for an apartment in my city for the past six months. The prices have not reduced, but the developers are offering benefits like free club memberships and complimentary fittings. Though sceptical of the schemes, I was unable to quantify the gain from them. Your story has helped me in this regard. My friends suggest that I should wait for a few more weeks before buying a house as the prices may come down. Is this true?
— Parul Patil, Indore
We are glad you liked the story. It is difficult to predict the right time for investing in a house. But if you intend to live in it, we suggest you go ahead with the purchase, provided it is a good bargain.
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