SCHOOL OF ADVANCED SCIENCES

DEPARTMENT OF MATHEMATICS
FALL SEMESTER – 2021∼2022
CCA1014 – Business Mathematics
D1 Slot
DIGITAL ASSIGNMENT – III

Instructions:

(i). Last Date for Submission of Digital Assignment I (DA-I) : 18th November 2021.

(ii). Mention the Register Number, Name, Slot Details, Course Code and Course Title in the
First Page of the Assignment. Also mention the Register Number and Name in every

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page of the document.

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(iii). Submit the typed form of answers for all the following questions as a single PDF
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document into V-Top Login properly on or before the mentioned last date.
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Answer ALL the Questions

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1. Compute the accumulated value of an ordinary annuity of Rs. 1000 per month for 5
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years assuming that the interest rate is 9% compounded monthly.

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2. You have just won the million-dollar lottery! You will get Rs. 100000 at the end of each
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year for the next 10 years. Assuming 4% interest compounded annually at the end of
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each year, how much did you really win?

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3. A washing machine sells for Rs. 45000. If Mae puts Rs. 15000 down, how much should
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she pay each month for the next 12 months if she finances the appliance? Assume that
the finance charges are 15% per year compounded monthly.

4. Constructed a sinking fund schedule which describes the accumulation of a sinking fund
in which Rs. 20000 is to be accumulated in 3 years if payments are made semiannually
into an account which pays 8% compounded every 6 months.

5. A tennis club has 300 members. They want to build a new clubhouse at a cost of Rs.
7500000 os they establish a sinking fund which will accumulate this amount of money
in 2 years. The fund earns 12% interest compounded every two months. If all members
are to pay equally, how much will their bimonthly assessment be?

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