I have a seemingly easy question but cant solve it
A=Rs 1200 n=12 years i=5% Find the FV of annuity
Using the formula FV=a/(1+i) raised to n -1
1)1258 2)2581 3)1528 4)None of these
Thanks in advance
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Simple and compound interest
Replies (1)
FV= a/i(1+i)^n-1)
= 1200/0.05(1+0.05)^12-1)
= 24000(1.05)^12-1)
=24000(1.80-1)
= 19200 ans.......
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