Question

Mohan plan to send his son for higher studies in America
after 5 years. He expects the cost of the study to be Rs.
4,00,000. How much should he save annually to have a
sum of Rs. 4,00,000 at the end of 5 years. If the interest rate
is 9%?​

Answer 1

Answer:

my answer came 2840000

Explanation:

i used the formula

Answer 2

Answer:

I got rs. 2,59,960

Explanation:

PV = FV*DF

PV= 4,00,00 * 1/(1+R)t