Question

A person bought a house paying ` 20,000 cash down and ` 4,000 at the end of each year
for 25 yrs. at 5% p.a. C.I. The cash down price is​

Answer 1

Answer:

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Step-by-step explanation:

PV = 4000 x sum of 1/(1+r)^n

= 4000 x sum of 1/(1.05)^25

= 56,375.77

Now we will calculate the total price here:

down price + pv

= 20,000 + 56,375

= 76,375

76,375 is the final answer for this question.

If there is any confusion please leave a comment below.