What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?
A. Rs. 550
B. Rs. 551.25
C. Rs. 560
D. Rs. 560.75
Answer:B
What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?
A. Rs. 550 B. Rs. 551.25 C. Rs. 560 D. Rs. 560.75