hi there,

Im really struggling with this Finance question. For reference,

"lakhs" is the unit of currency

"Mirpur" is a place

Thank you

(5) you would like to have 98 lakhs in your account 10 years from now to buy a flat in Mirpur. For achieving this target, you would like to make three separate deposits in your saving account that pays 7% annual interest rate, which compounds monthly. All the deposits will be a single deposit investment. Today you make the first deposit of 15 lakh. Five years from now, you will make a 10-lakh deposit. What would be the third deposit you need to make 7 years from now so that you can have that 98 lakhs to buy that flat. (Kindly note that you have to show detailed calculation process. Without a detailed calculation process marks will be deducted. Excel calculation will be ignored. If required feel free to paste multiple pictures in the designed area and increase designed area to match your answer.) 3