Mr. Dhananjay plans to send his son for higher studies abroad after 8 years. He expects the cost of these studies to be Rs. 5,00,000/- How much should he save annually to have the above said amount at the end of 8 years, if the rate of interest rate is 10 %.

Mr. Dhananjay plans to send his son for higher studies abroad after 8 years. He expects the cost of these studies to be Rs. 5,00,000/- How much should he save annually to have the above said amount at the end of 8 years, if the rate of interest rate is 10 %.

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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Question

Mr. Dhananjay plans to send his son for higher studies abroad after 8 years. He
expects the cost of these studies to be Rs. 5,00,000/- How much should he save
annually to have the above said amount at the end of 8 years, if the rate of interest
rate is 10 %.

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