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A person plans to have a retirement policy which will give him return when he reaches an age of 50. For this person whose age is 35 years now has to make annual premium payment of Rs. 19760 till he reaches an age of 49. if the interest rate is 8% compounded annually, what is the lump sum he is getting a maturity for this policy.

A person plans to have a retirement policy which will give him return when he reaches an age of 50. For this person whose age is 35 years now has to make annual premium payment of Rs. 19760 till he reaches an age of 49. if the interest rate is 8% compounded annually, what is the lump sum he is getting a maturity for this policy.

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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 A person plans to have a retirement policy which will give him return when he reaches an age of 50. For this person whose age is 35 years now has to make annual premium payment of Rs. 19760 till he reaches an age of 49. if the interest rate is 8% compounded annually, what is the lump sum he is getting a maturity for this policy.

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