Mr. Rahul has been saving Rs.9,500 at the beginning of every quarter for 25 years at an
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Mr. Rahul has been saving Rs.9,500 at the beginning of every quarter for 25 years at an average return of 14% p.a. compounded quarterly. He has to set apart Rs.15,00,000 for his daughter’s marriage and Rs.10,00,000 for his son’s marriage from accumulated sum after 25 years. He is saving separately for their education and he wishes to withdraw a certain amount for the next 25 years on the remaining sum. The money accumulated will be invested at a rate of 8% p.a. How much can he withdraw at the beginning of every year?
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