Question

23
A firm has purchased a new car for office use that will need
replacement after 5 years. The firm decides to create a sinking
fund to get Rs.5 lac to replace the car now purchased. At 10% p.a.
rate of interest, how much they will be required to invest in the
fund, annually. (hint - PVI factor = 0.61051)​

Answer 1

Answer:

i think that answer is 4555

Answer 2

Step-by-step explanation:

it can be found by using principal formula