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Appu retires at 60 years receiving a pension of 14,400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% pa is payable half-yearly. What single sum is equivalent to his pension?
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Appu retires at 60 years receiving a pension of 14,400 a year paid in ...
Answer:

In order to find the answer use this formula:

A = P (1+I) ^ n-1 / i (1+i) ^ n

The correct answer will be Option B:  1,44,900
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Most Upvoted Answer
Appu retires at 60 years receiving a pension of 14,400 a year paid in ...
Amt of instalment = 14400 each year but this amt. is paid in half yearly instalment, therefore amount of annuity(A) will be 7200(14400÷2)
i = 4÷200 = 0.02
n = 26
therefore, P.V. = A[(1+i)^n -1 / i(1+i)^n]
= 7200[(1.02)^26-1/0.02(1.02)^26]
= 144871 ≈ 144900(appx.)
Community Answer
Appu retires at 60 years receiving a pension of 14,400 a year paid in ...
In how many years a sum of monet tereble at 5% compounded half yearly rest
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Appu retires at 60 years receiving a pension of 14,400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% pa is payable half-yearly. What single sum is equivalent to his pension?
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Appu retires at 60 years receiving a pension of 14,400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% pa is payable half-yearly. What single sum is equivalent to his pension? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Appu retires at 60 years receiving a pension of 14,400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% pa is payable half-yearly. What single sum is equivalent to his pension? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Appu retires at 60 years receiving a pension of 14,400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% pa is payable half-yearly. What single sum is equivalent to his pension?.
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