The present value of an annuity of Rs. 1500, paid to the end of each half year for 3 year at the rate of interest 10% compounded half yearly is approximately Rs??
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Answered by
1
Step-by-step explanation:
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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