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A man wishes to accumulate capital worth Rs 50,440 at the end of 3 years from now. If he can invest his savings at 5 per cent per annum compound interest, what equal sum must be put aside each year, beginning at the end of the first year, to obtain the required amount? |
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Answer» A man wishes to accumulate capital worth Rs 50,440 at the end of 3 years from now. If he can invest his savings at 5 per cent per annum compound interest, what equal sum must be put aside each year, beginning at the end of the first year, to obtain the required amount? |
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