A deposit to be made on 1 st January, 2020, into bank that will earn an interest of 7% compound annually. It is desired to withdraw ₹60,000 on 31 st December, 2023 and ₹1,00,000, on 31 st December, 2025. The amount to be
CS Executive · Corporate and Management Accounting · PYQS · December 2019
A deposit to be made on 1 st January, 2020, into bank that will earn an interest of 7% compound annually. It is desired to withdraw ₹60,000 on 31 st December, 2023 and ₹1,00,000, on 31 st December, 2025. The amount to be deposited on 1 st January, 2020, will be ........ (PVF 7% for 4 years = 0.7629; PVF 7% for 6 years = 0.6663) :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Financial Management
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