23. Rs.1000 is invested at the end of each month in an account paying interest 6% per year compounded
monthly. What is the future value of annuity after 10 payment? (Given that (1.005) * = 1.0511)
Car Rs.10220
(b) Rs.1022
(c) Rs.20000
(d) Rs.1020
Answers
Answered by
1
Answer:
Answer
Correct option is
A
2,044
A=Rs. 200
n=10
i=6% p.a. =6/12% per month =0.005
Future value of annuity after 10 months is given by
A(n, i)=A[
i
(1+i)
n
−1
]
A(10,0.005)=200[
0.005
(1+0.005)
10
−1
]
=Rs. 2,044.
Answered by
5
Step-by-step explanation:
the answer is option A
look the attachment
Attachments:
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