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1 0 . A person plans to have a retirement policy which will give him return when he reaches an age of 5 0 .

10. A person plans to have a retirement policy which will give him return when he reaches an age of 50. For this person whose age is 35 years now has to make annual premium payment of Rs.19760 till he reaches an age of 49. if the interest rate is 8% compounded annually, what is the lump sum he is getting a maturity for this policy.

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