 Hello students, let's work out the following problem. It says find the future amount of an annuity of rupees 1 lakh payable at the end of each quarter for six years at 8% per annum compounded quarterly given that 1.02 to the power 24 is 1.608. So let's now move on to the solution. We have to find the future amount of the annuity of rupees 1 lakh. So the principle is rupees 1 lakh the rate is given to us as 8% per annum compounded quarterly. So r is 8% per annum compounded quarterly. So we need to multiply it by 1 by 4 So this is equal to 8 by 100 into 1 by 4 So this is equal to 0.02 Quarterly given that the annuity of rupees 1 lakh is payable at the end of each quarter for six years. So here the number of years is 6 into 4 because it is being paid at the end of each quarter for six years. So n is 24 quarter years now s is given by the formula p upon r into 1 plus r to the power n minus 1 Let's now substitute all these values. p is 1 lakh upon r which is 2 by 100 into 1 plus 0.02 to the power 24 minus 1 So again this is equal to 100 0 0 0 upon 2 into 1 plus 0.02 is 1.02 to the power 24 minus 1 50 lakh into 1.02 to the power 24 is given to us as 1.608 minus 1 So again, this is equal to 50 lakh into 0.608 Which is equal to rupees 304 0 0 0 Hence the amount of the annuity is rupees 3040 0 0 0 So this completes the question and the session. Bye for now. Take care. Have a good day