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Suppose, you have deposited BDT.100000 in a pension scheme. You will get an annuity payment of money at the end of each year for next
Suppose, you have deposited BDT.100000 in a pension scheme. You will get an annuity payment of money at the end of each year for next 5 years. The pension scheme will pays 8% interest, compounded annually. You expect to receive annuity payment raises of 3%, which will offset inflation (i.e., your second annuity will be 3% greater than your first, the third will be 3% greater than the second, etc.). How much will you get from first annuity payment?
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