The future value of annuity on Rs. 5000 a year for 7 years at 14% per annum compound interest is given
(1.14)7= 2.5023.
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Annual payment A=Rs. 500
n=7
i=14%=0.14
A(7,0.14)=500[0.14(1+1.014)7−1]
=Rs. 5365.35
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