3300 ----- 3% ? (1st time interval, 99) ? 3399.
Here, time interval is given as half-yearly i.e. 6 months.
Let the sum be Rs.x. Then,
=> x =5500
sum = Rs. 5500.
So, S.I = Rs. = 1100
FV1 = Future value of $2000, 1 year later
= PV (1+ i)^n
i=j/m
FV = PV(1+ i)^n
FV = $1000(1.04)(1.045)(1.05)(1.055)(1.06) = $1276.14
the maturity value of the regular GIC is
FV = $ 1000 x = $1276.28
The single equivalent payment will be PV + FV.
FV = Future value of $10,000, 12 months later
$10,000 *(1.0075)/12
$10,938.07
PV= Present value of $10,000, 24 months earlier
$10,000/(1.0075)24
$8358.31
The equivalent single payment is
$10,938.07 + $8358.31 = $19,296.38
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