A bank is planning to offer a unique product to its customers whereby it would pay Rs 250,000 per annum for an indefinite period commencing from the end of year 6. How much amount should the bank ask its customers to pay now, if the rate of
interest that the bank can pay, is 5% compounded annually?
a) Rs 3,191,221
c) Rs 3,917,631
b) Rs 3,547,829
d) Rs 3,960,498
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Answer:
b the answer for this question is B
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