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Mrs Y is to receive Rs 5,00,000 after one year and another Rs 5,00,000 after 5 years from now from the investment made in the

Mrs Y is to receive Rs 5,00,000 after one year and another Rs 5,00,000 after 5 years from now from the investment made in the past. She wants to further invest both the amounts so as to accumulate the money required after 15 years from now for higher studies of her daughter. The first amount can be further invested @ 10% p.a. whereas the second amount can be invested @ 8% p.a. compounded half yearly (Estimated rate of interest at the time). Find out the nominal value of money available for her daughter after 15 years from now.

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