14-06-2013, 12:45 PM
Financial Arithmetic Using Microsoft Excel
Financial Arithmetic.pptx (Size: 46.42 KB / Downloads: 14)
Problems
Sita(25) after finishing her MBA from Banasthali has joined Axis Bank as an officer. She wants to buy a small car after 5 years and wants to start saving for this in Bank’s recurring deposit scheme @ Rs.5,000 per month. The prevailing interest rate for staff members for a five year deposit scheme is 9.5% p.a.. How much Sita will accumulate after 5 years ?
Gayatri (30) after completing Computer Science from Banasthali, is working with IBM and wants to buy a two bed room flat in the outskirt of Jaipur at Rs.25 lakhs. She wants to avail a loan of Rs. 20 lakhs from ICICI Bank for this to be repaid in 20 years. The interest rate applicable would be 10.75% p.a.. How much Equated Monthly Installment (EMI) she would have to pay for this loan?
Mrs. Jain (45) is working as a faculty at a Management Institute at Jaipur. She has a daughter (10) who is studying in 5th class. Mrs. Join wants her daughter to go for IIT after 12th and wants to start saving for meeting this expenditure. Estimated expenses towards fees and other requirements at IIT on the average, is Rs. 1.2 lakhs per year for the 4 years (2019-2022) of her daughter’s stay at IIT. How much she should start saving per month for the next 7 years to be able to meet her daughter’s education? Assume applicable interest rate to be 9% p.a.