Question

Find the accumulated value after 3years of an immediate annuity of rs 10,000 p.a. with interest compounded annually at 7%p.a​

Answer 1

Answer:

n=36 months

M.V[ Maturity Value]= ₹ 10,000

r= 7%

P + n(n+1)/2 x 12 x r/100

P + 36 x 37/ 2 x 12 x 7/100

P + 777/200

C.I = 777/200 + P

Amount= C.I + P

777/200 + P + P = 10000

and so on...

Explanation:

Go on solving and you will find P[Principle Amount]