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Question 2.S2.EQ.1: A person is required to pay four equal annual payments of Rs......

A person is required to pay four equal annual payments of Rs 4,000 each in his deposit account that pays 10 per cent interest per year. Find out the future value of annuity at the end of 4 years.
(CA(PCE)—May, 2007)

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Future Value of annuity =( Rs 4,000 \times Compound interest factor of annuity at 10 \% rate of interest for 4 years, 4.641)= Rs 18,564

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