Question

Rs.2000 is invested at the end of each month in account paying interest 6% per compounded monthly,
What is the future value of this annuity after 10th payment ?​

Answer 1

Step-by-step explanation:

You have to solved by calculator easily

Answer 2

Answer:

Future value of annuity after 10 months is given by$Rs.2044$

Step-by-step explanation:

$&\text { A }=\text { Rs. } 200 \\&n=10 \\&\mathrm{i}=6 \% \text { p.a. }\\=6 / 12 \% \text { per month }\\=0.005\end{aligned}$

Future value of annuity after 10 months is given by

$\begin{aligned}&\mathrm{A}(\mathrm{n}, \mathrm{i})=A\left[\frac{(1+i)^{n}-1}{i}\right] \\&A(10,0.005)=200\left[\frac{(1+0.005)^{10}-1}{0.005}\right] \\&=\text { Rs. } 2,044 .\end{aligned}$