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TIme value of money 7. Mr. Ali planned to do MBA and for this purpose he saved PKR 450,000 and deposited in a Bank. Bank

TIme value of money

7. Mr. Ali planned to do MBA and for this purpose he saved PKR 450,000 and deposited in a Bank. Bank offered 10% return on deposit. Mr. Ali asked the manager to give him three equal installments during his study.

Calculate what annual payments Mr. Ali will receive from bank each year?

Show amortization schedule of his deposit amount for three years?

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