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Mr. FOFA wants to buy a 2-BHK flat in Worli (Mumbai) after five years and at present he has 76,23,723 (seventy six lakhs twenty three
Mr. FOFA wants to buy a 2-BHK flat in Worli (Mumbai) after five years and at present he has 76,23,723 (seventy six lakhs twenty three thousand seven hundred and twenty three rupees) with him. The XYZ bank is willing to pay 7.75% per annum interest rate on quarterly basis (i.e. compounding frequency). Find out how much Mr. FOFA gets if he invests with XYZ bank after five years. (5 Points)
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