How much can be withdrawn at the beginning of each year for 5 years if first withdrawal is 6 years from now?

Section A (1 Mark)

Mansi deposits Rs. 50,000/- in a bank account which pays interest @ 10 % per annum.

How much can be withdrawn at the beginning of each year for 5 years if first withdrawal is 6 years from now?
A . 20242.42
B . 22242.42
C . 31242.42
D . 21242.42

View Answer

Answer: D