2. When you were born, your dear old Aunt Ms
Rahat promised to deposit Rs2700 in a
savings account for you on each and every
e of your birthdays, beginning with your
first. The savings account bears a 6 percent
compound annual rate of interest. You have
just turned 30 and want all the cash. However,
it turns out that dear old (forgetful) Aunt Ms
Rahat made no deposits on your eighth,
eighteenth, twenty second and twenty seventh
birthdays. How much is in the account now
on your thirtieth birthday?
3. Sales of the Master Company were Rs.
350,000 this year, and they are expected to
grow at a compound rate of 15 percent for the
next ninth years. What will be the sales figure
at the end of each of the next ninth years?
4. A 5 year loan of Rs. 1500,000 with equal
instalment payments at the end of each year.
The interest rate is 9% Per year. Establish loan
amortization schedule.
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