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Sam is having two different saving plans option. The first plan would have his deposit Rs.10000 every six month, and he would received interest at
Sam is having two different saving plans option. The first plan would have his deposit Rs.10000 every six month, and he would received interest at an 8 percent annual rate, compounded semiannually. Under the second plan he would deposit Rs.20000 every year with a rate of interest of 8.5 percent, compounded annually. The initial deposit with plan I would be made six months from now and with Plan 2, one year hence. (a)What is future value of first plan at the end of 5 years? (b)What is future value of second plan at the end of 5 years?
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