Question

If money is worth 3 % compounded in four months; find the present value whose annual payment is Rs. 900 payable once in 4 months for 10 years
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Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Step-by-step explanation:

compound interest every 4months

Calculating monthly compound interest

Divide your interest rate by 12 (interest rates are expressed annually, so to get a monthly figure, you have to divide it by the number of months in a year.)

Add 1 to this to account for the effects of compounding.