Kamran just won a lottery and want to put some money away so that he will have Rs. 75,0 00 for his Childs school education 18 year s from now. He can earn 7. 5 percent compounded annually. How much does he need to invest today?
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Answer:
Rs. 55555.5556
Step-by-step explanation:
Invest = 75000/(18*(7.5/100))
= 55555.5555.......
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