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kindly guideme
pharmatec
Posts: 1 Newbie
[FONT="]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....?
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this is my assignment question.... can anyone help me with proper calculations....?
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0
Comments
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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 :A0
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