Engineering Economics
Mr. David deposits Rs 1200 now, Rs 800 two years from now and Rs 1000 five years from now. If the savings bank's rate of interest in 5%, he will receive an amount of Rs X, 10 years from now, where ‘X’ is

Rs. 3415
Rs. 4225
Rs. 4826
Rs. 4413

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

Compound interest is paid on all amounts in the annuity.
The first payment is made at the beginning of the first period.
The amounts of all payments are equal.
The payments are made at equal interval of time.

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