Find the present value of ₹10,000 to be required after 5 years, if the interest rate be 9 %compounded annually.
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Answered by
2
Answer:
=Rs.6499.42.
Step-by-step explanation:
Here i=0.09=9%
n−5
A
n
=10,000
Required present value =
(1+i)
n
A
n
=
(1+0.09)
5
10,000
=Rs.6499.42.
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