Your grandfather is 75 years old. He has total savings of
Rs.80,000. He expects that he live for another 10 years and
will like to spend his savings by then. He places his
savings into a bank account earning 10 per cent annually.
He will draw equal amount each year- the first withdrawal
occurring one year from now in such a way that his account
balance becomes zero at the end of 10 years. How much will
be his annual withdrawal?
- 4 Answers
- 11756 Views
- I also Faced
- E-Mail Answers
Answer Posted / nareshreddy
8,400 per annum
| Is This Answer Correct ? | 5 Yes | 17 No |
Post New Answer View All Answers
Tell us what is the abbreviation for the accounting terms debit and credit?
Who uses accounting?
Explain have you ever prepared mis reports and what are these?
Accounting Questions
Tell us do you possess any knowledge about accounting standards?
what is bond wash transaction ,when we have to use it, and what is the procedure please help me with examle
Explain what is double-entry accounting? Explain with an example?
WHICH QUESTIONS ASKED IN EPFO IN 2009.
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
Explain me is any difference between inactive and dormant accounts?
what is capital reserve
What do u mean by press releases
WHETHER WE CAN BOOK ALL PRELIMINARY EXPENSES, INCLUDING ACCESSORIES RELATED TO PURCHASE OF A NEW VEHICLE TO CAPITAL EXPENDITURE?
I select in Vendor Master - in defualt data material - Purchasing Group as a Subcontractor but how to get report or list only Subcontractor Vendor Master in sap?
WHAT ARE THE DIFFICULT ELEMENT OFF JOB
