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in Financial Mathematics by (47.8k points)
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Find the present value of Rs 2,000 per annum for 14 years at the rate of interest of 10% per annum. [(1.04)-14 = 0.6252]

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Best answer

Here a = 2000, n = 14, and i = \(\frac{10}{100}\) = 0.1

= 20000 [1 – 0.2632] 

= 20000 x 0.73678 

= Rs 14,735.60

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