Qtext: Note: Please answer this question only by typing your answers in the typing space available for this question (a) Mr. Pentala Harikrishna who is 45 years old is planning for his retirement, which is 15 years away. He would like to invest Rs. 7500 per month in a systematic investment plan (SIP) for 15 years with ICIC bank in Mumbai, India. The plan is expected to earn an interest of 13% per annum. Assume monthly compounding, what will be the value of Mr. Harikrishna's investment at the end of 15 years? [2] (b) Ms. Lakshmi Varapu who is 40 years old is also planning for her retirement. She is working for Infosys Corporation, wherein the retirement age is 60 years. Ms. Varapu just received a gift of Rs. 60 lakhs from her grandfather. State Bank of India is offering a special scheme with an interest rate of 13% per annum, compounded on a quarterly basis, for fixed deposits of terms ranging from 5 years to 30 years. Ms. Varapu is planning to invest the gift amount (in the form of a fixed deposit) with State Bank of India until her retirement. At the time of her retirement, what is the lumpsum amount that Ms. Varapu can expect to receive from State Bank of India from her fixed deposit? Assume that she will not make any withdrawals from the fixed deposit during the term of the deposit. [2] c) What is the effective rate of interest earned by Ms. Lakshmi Varupu on her Fixed deposit with State Bank of India? [1]

Note : Please answer this question only by typing your answers in the typing space available for this question (a) Mr. Pentala Harikrishna who is 45 years old is planning for his retirement, which is 15 years away. He would like to invest Rs. 7500 per month in a systematic investment plan (SIP) for 15 years with ICIC bank in Mumbai, India. The plan is expected to earn an interest of 13% per annum. Assume monthly compounding, what will be the value of Mr. Harikrishna's investment at the end of 15 years? [2]. (b) Ms. Lakshmi Varapu who is 40 years old is also planning for her retirement. She is working for Infosys Corporation, whorein the retirement age is 60 years. Ms. Varapu just receivod a gift of Rs. 60 lakhs from her grandfather. State Bank of India is offering a special scheme with an inforest rate of 13% per annum, compounded on a quarterly basis, for fixed doposits of terms ranging from 5 years to 30 years. Ms. Varapu is planning to invest the gift amount (in the form of a fixed deposit) with State Bank of India until hor retirement. At the time of her retirement, what is the lumpsum amount that Ms. Varapu can expect to receive from State Bank of India from her fixed deposit? Assume that she will not make any withdrawals from the fixod deposit during the term of the deposit. [2] c) What is the effective rate of interest earned by Ms. Lakshmi Varupu on her Fixed deposit with State Bank of India? [1]