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Question
Find accumulated value after 1 year of annuity immediate in which Rs 20,000 is invested every quarter, at .16% p.a. compounded quarterly.
[Given : (1.04)4 = 1.1699]
Solution
C = 20,000; n = 4; rate = 16% p.a
r = `16/4` % per quater
r = 4%
i = `r/100` =0.04
Accumulated value A = `C/i [(1 + i)^n -1]`
= `20000/(0.04) [( 1 + 0.04)^4 -1]`
= 5,00,000 [(1.04)4 - 1]
= 5,00,000 [1.1699 -1]
= 5,00,000 [0.1699]
A = Rs 84,950
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