Question
Please could you help me with all these questions, I don't have enough questions to ask 1. What amount should be invested by Somya now
Please could you help me with all these questions, I don't have enough questions to ask
1. What amount should be invested by Somya now to grow to Rs. 6,00,000 is 8 years time when the rate of interest is 9% p.a. and compounding is done once a year?
2. Rama needs Rs. 12,00,000 after 7 years to meet the education costs of her daughter. Rate of interest is 9% compounding monthly. How much lump sum amount should she invest now to enable her to withdraw an amount of Rs. 12,00,000 after 7 years?
3. Ridhima needs Rs. 9,00,000 in today's terms for her son's higher education Cost of education is increasing by 6% every year and the money is require after 8 years. How much money will she require after 8 years to meet the goal and how much is to be saved now if the rate of return is 9% p.a.
4. What amount must be invested for 8 years at 10% p.a. when compounding is done quarterly to accumulate to Rs. 6,00,000?
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