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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does PMT stand for in relation to FVA?
💡 Hint: Think about what regular contributions to savings are called.
Question 2
Easy
What is the general purpose of using the FVA formula?
💡 Hint: Consider why we care about future money that we invest regularly.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does FVA stand for?
- Future Value of Assets
- Future Value of Annuity
- Forward Value of Annuity
💡 Hint: Focus on the terms used: what describes future values related to annuities?
Question 2
True or False: FVA applies to a single payment only.
- True
- False
💡 Hint: Think about how many payments you might make over time.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company plans to deposit ₹10,000 annually in a savings account with a 7% annual interest rate. How much will the total amount be after 15 years?
💡 Hint: Break down each component and ensure you adjust for the total number of years.
Question 2
Mary decides to contribute ₹1,500 every month towards her child's college fund at an expected annual return of 5%. Determine how much she'll accumulate in 12 years.
💡 Hint: Make sure to convert the annual rate to a monthly rate for accurate calculation.
Challenge and get performance evaluation