HM 23i- Em Ecomoomlies oe he dabesits Due Le Febq, 2217 A persumlpBts a sum of Rs, 2,00,00 ina bank forthe education of his son who wil be admited to a profesional course ar eigh yeas, The bak pays TS pr aa inter rate, Compeunded annual. Find the tre amount ofthe deposed money a the tine of ting his son ine peofssonnt couse ‘A person who is 20 years old is planning for his retired life. He plans to invest an equal sum ‘of Rs. 20,000 at the end of every year for the next 20 years starting from the end of next year. ‘The bank gives 15 per cent interest rate, compounded annually. Find the maturity value of his account when he is 50 years old. ‘A-company is planning to expand its business after four years from now. The expected money required for the expansion programme is Rs. 150,000,000. The company can invest Rs, 60,00,000 at the end of every year for the next five years. If the assured rate of return of investment is 18 per cent for the company, check whether the accumulated sum in the account ‘would be sufficient to meet the fund for the expansion programme. If not, find the difference in amounts for which the company shiould make some other arrangement after four years. A company is planning to expand its business after eight years from now. The money required for the expansion programme is Rs. 90,000,000. What annual equivatent amount should the company deposit at the end of every year at an interest rate of 15 per cent compounded annually to get Rs, 90,000,000 after eight years from now? Abank gives a loan toa company to purchase an equipment which is worth Rs 1,500,000, at fn interest rate of 18 per cent compounded annually. This amount should be repaid in 25 yearly equal instalments. Find the instalment amount that the company has to pay to the bank. A person is planning for his retired life. He has 20 more years of service. He would like to deposit 20 per cent of his salary, which is Rs. 20,000 atthe end of the first year and, thereafter, he wishes to deposit the same amount (RS. 20,000) with an annual increase of Rs. 2000 for the next nine years with an interest rate of 20 per cent. Find the total amount at the end of the tenth year of the above series.