Mathematics for FinancePYQ Nov 19Question 1296 of 422
All Questions

At six months intervals A deposited $1000$ in a savings account which credit interest at $10\%$ p.a., compounded semi-annually. The first deposit was made when A's son was $6$ months old and last deposit was made when his son turns $8$ years old. The money remained in the account and was given to the son on his $10^{th}$ birthday. How much did he receive? $(1.05)^{16} = 2.1829$

Options

A$25740$
B$28755$
C$27860$
D$29760$
For any discrepancies in this question, email contact@cadada.in

Correct Answer

Option b$28755$

All Options:

  • A$25740$
  • B$28755$
  • C$27860$
  • D$29760$

More Questions from Mathematics for Finance

Ready to Master Mathematics for Finance?

Practice all 422 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.

Start Practicing — It's Free