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Your grandfather is 75 years old. He has total saving of
Rs. 80000. He expects that he live for another 10 years and
will like to spend his saving by them. He placed his saving
into a bank account earning 10 per cent annually. He will
draw equal amount each year- the first withdrawal occuring
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?

Answers were Sorted based on User's Feedback



Your grandfather is 75 years old. He has total saving of Rs. 80000. He expects that he live for an..

Answer / ospanwar

Rs.13019.63

Is This Answer Correct ?    3 Yes 2 No

Your grandfather is 75 years old. He has total saving of Rs. 80000. He expects that he live for an..

Answer / seshu

20,750

Is This Answer Correct ?    3 Yes 3 No

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