To calculate the future value of annuity, we need to use the formula:

FV = PMT x (((1 + r)^n) - 1) / r

where FV is the future value of the annuity, PMT is the payment made annually, r is the interest rate, and n is the number of years.



PMT = Rs. 6000
r = 9% (compounded annually)
n = 8 years



We can now substitute the given values in the formula to calculate the future value of annuity:

FV = 6000 x (((1 + 0.09)^8) - 1) / 0.09
FV = 6000 x (2.158925 - 1) / 0.09
FV = 6000 x 1.158925 / 0.09
FV = 77,952.78

Therefore, the future value of annuity of Rs. 6000 made annually for 8 years at an interest rate of 9% compounded annually is Rs. 77,952.78.



An annuity is a series of equal payments made at regular intervals. In this case, the annuity is Rs. 6000 made annually for 8 years. The future value of annuity is the total value of all the payments made at the end of the 8-year period, considering the interest earned on those payments.

The formula for calculating the future value of annuity takes into account the interest rate and the number of years for which the payments are made. We can use this formula to calculate the future value of annuity for any given set of values.

In this case, we have used the formula to calculate the future value of annuity for the given values of PMT, r, and n. The result obtained is the total value of all the payments made at the end of the 8-year period, considering the interest earned on those payments.



The future value of annuity of Rs. 6000 made annually for 8 years at an interest rate of 9% compounded annually is Rs. 77,952.78. This calculation can be used to determine the future value of annuity for any given set of values using the formula outlined above.

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