We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

kindly guideme

Options
pharmatec
pharmatec Posts: 1 Newbie
in Savings & investments
[FONT=&quot]If I want to receive Rs.18000 after each six-months for 8 years after your retirement, how much money do you have to save in a bank, which pays at the rate of 6 %, compounded six-monthly?

this is my assignment question.... can anyone help me with proper calculations....?


[/FONT]

Comments

  • McSaver
    McSaver Posts: 609 Forumite
    You would need a lump sum of Rs.300,000 to receive Rs.18,000 in interest at 6%.

    18,000 / 0.06 = 300,000.
    Had £80,000 in Savings - All GONE!!! BYE BYE
    :A Single, 27, Aspie, Gooner :A
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture