How much can he withdraw at the beginning of every year

Assignment Help Financial Accounting

Reference no: EM132771309

Problem 1: Mr. Rahul has been saving Rs.9,500 at the beginning of every quarter for 25 years at an average return of 14% p.a. compounded quarterly. He has to set apart Rs.15,00,000 for his daughter's marriage and Rs.10,00,000 for his son's marriage from accumulated sum after 25 years. He is saving separately for their education and he wishes to withdraw a certain amount for the next 25 years on the remaining sum. The money accumulated will be invested at a rate of 8% p.a. How much can he withdraw at the beginning of every year?

Reference no: EM132771309

Questions Cloud

How much is the total other revenues for resilience hospital : Resilience Hospital, How much is the total other revenues? Received P80,000 dividends from donated shares whose use is unrestricted.

What is the expected change in the EPS : The firm has annual interest expense of P6,000, preference share dividends of P2,000 per year, and a 30 percent tax rate. What is the expected change in the EPS

What did you learn from the article : Find an article in the local newspaper, web news service e.g. CNN, MSNBC, Google, or a weekly newsmagazine e.g. Time, Newsweek or U.S. New World Reports.

How much more does need to invest to get the same amount : How much will a 40-year-old get if he makes a similar investment? How much more does he need to invest to get the same amount?

How much can he withdraw at the beginning of every year : Mr. Rahul has been saving Rs.9,500, The money accumulated will be invested at a rate of 8% p.a. How much can he withdraw at the beginning of every year?

How are protists different to bacteria and viruses : How are protists different to bacteria and viruses?

What journal entries Goofy Ltd would have to prepare : Please demonstrate what journal entries Goofy Ltd would have to prepare on the transaction date, balance date and settlement date

Define why the population is designated as vulnerable : Compare vulnerable populations. Describe an example of one of these groups in the United States or from another country. Explain why the population.

What level of annual earnings must the new project generate : What level of annual earnings (before interest and taxes) must the new project generate in order to meet the company's objective of no change

User Account

All Pages