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Class 10 > Learn Mathematics > If you plan to save Rs. 300 annually for 10 years and...
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If you plan to save Rs. 300 annually for 10 years and the discount rate is 15%, what is the future value?

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Formula to be used is:- Present Value=Future Value/((1+r)^n), where r is discount rate and n in number of years. So, Future value= 300 *((1+0.15)^10)+300 *((1+0.15)^9)+300 *((1+0.15)^8)+....+300 *((1+0.15)^1).
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Formula to be used is:- Present Value=Future Value/((1+r)^n), where r is discount rate and n in number of years. So, Future value= 300 *((1+0.15)^10)+300 *((1+0.15)^9)+300 *((1+0.15)^8)+....+300 *((1+0.15)^1)
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