find the present value of ₹ 10,000 to be required after 5 years, if interest rate is 9%, compounded annually? a)5500. b)5600. c)6000. d)6500
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Answer:
₹15,386.239549
Step-by-step explanation:
A = P(1+ r/100)^n
n is the year P is principal and r is rate of interest.
Substituting
A=10,000(1+9/100)^5
LCM
A=10,000(100/100 + 9/100)^5
A=10,000(109/100)^5
A=10,000(15386239549/10000000000)
A= ₹15,386.239549
Hope this works for you.
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