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Time Value of Money

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Question : 44 of 99

Marks: +1, -0

Suppose your mom decides to gift you ₹10,000 every year starting from today for the next sixteen years. You deposit this amount in a bank as and when you receive and get 8.5% per annum interest rate compounded annually. What is the present value of this money :
Given that P(15,0.085)=8.304236

83042
90100
93042
10100

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