Find the present value of rs.10000 to be required after 5 years if the interest rate be 9% compounded annually
Answers
Answered by
1
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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