The present value of an immediate annuity for 3 years at 10% p.a. compounded annually is Rs. 40,000. Its accumulated future value after 3 years would be Rs. _________.
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Answer:
53,240 and 13,240
Step-by-step explanation:
Principal = Rs 40,000
Rate= 10
Time = 3 yrs
Amount. = P(1+r÷100)n
= 40,000(1+10÷100)3
= 40,000(1+10÷100)3
= 40,000(10+1÷10)3
= 40,000×11÷10×11÷10×11÷10
= 40×11×11×11
= 53,240 Answer
compound intrest = Amount - Principal
= 53,240 -40,00 0
= 13,240 Answer
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