Question

appu retires at 60 years receiving a pension of 14400, a year paid in half yearly installments for rest of his life after recknowing his life expectations to be 13 years and that interest at 4%p.a. is payable half yearly.

Answer 1

The options for this question are missing. Here are the missing options:

(A) 1,45,000

(B) 1,44,900

(C) 1,44,800

(D) 1,44,700

Answer:

In order to find the answer use this formula:

A = P (1+I) ^ n-1 / i (1+i) ^ n

The correct answer will be Option B:  1,44,900

If there is any confusion please leave a comment below.