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MTH302 Assignment No 01 Solution & Discussion Fall 2016
Question: 1 If the Basic salary of an employee is Rs. 55000 and Allowances are Rs. 6000. • What is the cost of the company on account of leaves? If casual leaves are 24 and sick leaves are12 per year and normal working days per month are 22.
Question: 2 If you want to get a loan but can only afford to pay Rs.13, 000 per month. How much can you borrow (loan amount) if the interest rate is 5% annually for 30 years?
Question: 3 Suppose you invest Rs. 5000 at the end of each year for 8 years in an account that pay interest at 8%, compounded annually. How much money would you have in the account at the end of the eight years?
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Dear M.Tariq Malik...
Can we post here answer ? so we can cross check our work either we are doing it in right path or wrong one ?
Arsalan Sajjad ya sure u can share ....
MTH302 1st assignment solution 2016

Mth302
Q1.
Gross salary =55000+6000=61000
Casual leave=24
Sick leave=12
Cost of casual leaves per year = {24 / (22 x 12)} x 61000 x 12=66545.45
Cost of sick leaves per year = {12 / (22 x 12)} x 61000 x 12=33272.7
Cost of leaves=66545.45+33272.7=99818.15
Q2.
If you want to get a loan but can only afford to pay Rs.13, 000 per month. How much can you borrow (loan amount) if the interest rate is 5% annually for 30 years?
PV=C (1(1+i)n/i)
I=5% per year =5/100=0.05 convert into monthly 0.05/12=0.004167
=13000(1(1+0.004167)360/0.004167)
=13000(10.2237998/0.004167)
=13000(186.2713)=2421526.9
Q3.
Suppose you invest Rs. 5000 at the end of each year for 8 years in an account that pay interest at 8%, compounded annually. How much money would you have in the account at the end of the eight years?
Fv=PV (1+i) n
Fv=5000(1+0.080
Fv=5000(1.080
Fv= 5000(471.954
Fv=2359774
ye formula nahi lagega jo mai ne post kia hai ?
Question No. 2 Ke Solution Mai
=13000(1(1+0.004167)360/0.004167)
=13000(10.2237998/0.004167) ?????
Ye Answer kis tarah Ayaa ? kindly tell ?
Years  Opening Balance  Investment  Intrest 8%  Total 
1st  5000  400.0  5400  
2nd  5400  5000  832.0  11232.0 
3rd  11232.0  5000  1298.6  17530.6 
4th  17530.6  5000  1802.4  24333.0 
5th  24333.0  5000  2346.6  31679.6 
6th  31679.6  5000  2934.4  39614.0 
7th  39614.0  5000  3569.1  48183.1 
8th  48183.1  5000  4254.7  57437.8 
Fv=PV (1+i) n
Fv=5000(1+0.08)80
Fv=5000(1.08)80=432000
I am confused 80 kha se aya its 8 years not 80 then why we use 80except 8
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