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A=Rs. 100 n=10, i = 5% find the FV of annuity
Using the formula FV=a/{(1+i)n-1}, FV is equal to
Using the formula FV=a/{(1+i)n-1}, FV is equal to
- a)Rs. 1258
- b)Rs. 2581
- c)Rs. 1528
- d)None of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A=Rs. 100 n=10, i = 5% find the FV of annuityUsing the formula FV=a/{(...
Given, A = Rs. 100, n = 10 years, i = 5%
We need to find the Future Value (FV) of annuity.
Formula used: FV = a/{(1+i)^n-1}
where a = annuity payment per period
Calculation:
We need to first calculate the annuity payment per period using the formula:
a = A * (i / (1-(1+i)^-n))
Substituting the given values, we get:
a = 100 * (0.05 / (1-(1+0.05)^-10)) = Rs. 12.58
Now, we can use the formula for FV:
FV = a/{(1+i)^n-1}
Substituting the given values, we get:
FV = 12.58 / {(1+0.05)^10-1} = Rs. 1258
Therefore, the correct answer is option A) Rs. 1258.
We need to find the Future Value (FV) of annuity.
Formula used: FV = a/{(1+i)^n-1}
where a = annuity payment per period
Calculation:
We need to first calculate the annuity payment per period using the formula:
a = A * (i / (1-(1+i)^-n))
Substituting the given values, we get:
a = 100 * (0.05 / (1-(1+0.05)^-10)) = Rs. 12.58
Now, we can use the formula for FV:
FV = a/{(1+i)^n-1}
Substituting the given values, we get:
FV = 12.58 / {(1+0.05)^10-1} = Rs. 1258
Therefore, the correct answer is option A) Rs. 1258.
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A=Rs. 100 n=10, i = 5% find the FV of annuityUsing the formula FV=a/{(1+i)n-1}, FV is equal toa)Rs. 1258b)Rs. 2581c)Rs. 1528d)None of theseCorrect answer is option 'A'. Can you explain this answer?
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