Question

The future value of annuity on rupees 5000 for 7 years at 14% per annum compound interest

Answer 1

Answer:

4900

Step-by-step explanation:

5000 x 7 x 14 /100

= 50 x 7 x 14

= 4900

Answer 2

Future value = 12,511.344

Step-by-step explanation:

Given:

Present value amount = 5,000

Number of year(n)= 7 year

Rate of interest (r) = 14% = 14 / 100 = 0.14

Future value of money = ?

Computation of future value of money:

$Future\ value\ of\ money = Present\ value(1+r)^n\\\\Future\ value\ of\ money = 5,000(1+0.14)^7\\\\Future\ value\ of\ money = 5,000(1.14)^7\\\\Future\ value\ of\ money = 5,000(2.50226879)\\\\Future\ value\ of\ money = 12,511.344$

Future value = 12,511.344

Therefore, the Future value of the amount is 12,511.344

Learn more:

https://brainly.in/question/13063998

https://brainly.in/question/5765479

#learnwithbrainly