Mr. Ram wish to work for another seven years and wants to buy a second home in Munnar after his retirement. He anticipates the price of the house will be Rs. 2,00,00,000 at that time. Calculate how much amount he needs to invest at the end of every half year from the current year, if the rate of interest is 10%.

Mr. Ram wish to work for another seven years and wants to buy a second home in Munnar after his retirement. He anticipates the price of the house will be Rs. 2,00,00,000 at that time. Calculate how much amount he needs to invest at the end of every half year from the current year, if the rate of interest is 10%.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 5E

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