Question

3. Calculate the amount of an immediate annuity of 3,000 for 15 years, if the rate o
interest is 5% per annum.
000 ouble at the end of each year for 3
1​

Answer 1

Step-by-step explanation:

P= 3000

T= 15years

R=5%

CI = P×R×T/100

CI = 3000×5×15/100

CI = 2250

Amount = CI-P

amount = 2250-3000

amount = 750