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What is the maximum amount Mr Kulkarni can spend

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Question - Mr. Kulkarni a young executive requested you to develop an early retirement plan for him. He wants to invest Rs 80000 per year beginning from his 30th birthday for next 30 years at EAR of 10%. From his 60th year Mr. Kulkarni will tour the world for 5 years and needs a large amount for the same. After his tour he wants to receive an annual income of Rs 500000 per year for next 15 years. Assuming EAR at 10% for entire time period; what is the maximum amount Mr. Kulkarni can spend on his world tour?

Reference no: EM132975982

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