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# MTH302 Assignment No 01 Solution & Discussion Fall 2016

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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### Replies to This Discussion

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

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(1-0.2237998/0.004167)
=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(1-0.2237998/0.004167) ?????

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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