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Math Help - Questions Part 3

  1. #1
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    Questions Part 3

    help me by Choosing the Correct answer:

    Question # 5
    Suppose you make a saving of Rs. 50,000 at the end of each month, assume an interest of 7% compounded monthly, how much will you have accumulated at the end of 4 years?

    a) 50000[(1 + 0.07)48 -1]/ (0.07)
    b) 50000[(1 – (1 + 0.07)-4]/ 0.07
    c)50000[(1 + 0.07/12)48 -1]/ (0.07/12)
    d) 50000(1+0.07)4

    Question # 6
    If you want to withdraw Rs 45,000 at the end of each quarter for the next 6 years then what amount must you invest today at 6% compounded quarterly?
    a) 45,000 [(1 - (1/ (1 + .06/4)24)) / (.06/4)]
    b) 45,000(1 + .06/4)24)
    c) 45,000 [(1 + ((1 + .06/4)24)) / (.06/4)]
    d) 45,000 [(1 - (1/ (1 + .06)6)) / (.06)]

    Thanks

    Azhar
    Last edited by mr fantastic; March 29th 2009 at 03:14 AM. Reason: Moved to new thread
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  2. #2
    MHF Contributor
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    Q5
    b and d are REALLY OBVIOUSLY wrong. You tell me why.

    A little thought throws out 'a'. Think about the denominator.

    That leave 'c', doesn't it?
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