Q1.)Mr.Kundan deposits Rs.100000 in a bank which pays 10% interest . How much can he withdraw annually for a period of 30 years ? Assume that at the end of 30years the amount deposited will wittle down to zero.
Q2.)Mr. Vivek deposits Rs.10000 in a bank now . The interest rate is 10% and compounding is done semi annually. What will thr deposits grow to after 10 years ? If the inflation rate is 8% per year , what will be the value of deposits after 10 years in terms of the current rupee ?
Ans1) 100000= x * PVIFA( 10%, 30)
x= 10608 p.a
Ans2) Value of Deposit after 10 yrs= 26533.
Present value Re. 1 afetr 10 yrs= 0.4632
Value of deposit after 10yrs in present term= 12290
abhirup can u please give the answers of the second question along with formulas...
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