Which of the following are correct about sinking fund?

A. It is a long-term account which can be closed any time.

B. It is a fixed term account.

C. It can be used only for the purpose it was created.

D. It is set up for a particular upcoming expense.

Choose the correct answer from the options given below:

Harish invested ₹ 40,000 in a no-fee fund. After one year, the value of the fund rose to ₹ 60,000 then the nominal rate of return on the investment is

Mr. X wishes to purchase a flat for Rs. 44,65,000 with a down payment of Rs. 10,00,000 and balance in equated monthly installments (EMI) for 25 years. If the bank charges 6 % per annum compounded monthly, the EMI is:

[Given: $(1.005)^{300} =4.4650$]

In reference to the financial mathematics, which of the following statements are correct?

A. Sinking fund is an annuity created for accumulating money that can be used for paying off a financial obligation at some future pre-decided date.

B. The compound annual growth rate (CAGR) is calculated by dividing the cumulative return by the number of years.

C. The average annual growth rate (AAGR) is linear measure that does not account for the effects of compounding.

D. Sinking fund is created to deposit surplus money which can be used for any future need.

Choose the correct answer from the options given below:

Ramesh plans to save some amount required after 10 years for higher studies of his son. He expects the cost of these studies to be Rs.1,00,000. How much should he save at the beginning of each year to accumulate this amount at the end of 10 years, if the interest rate is 12% compounded annually. (Given $(1.12)^{11}=3.477$)

A company has issued a bond of face value ₹ 90,000 carrying an annual dividend of 7% and maturing in 15 years. If the prevailing market rate of interest is 9% , the value of bond redeemed at par is: (given $(1.09)^{-15} \approx 0.3$)

A car costing ₹ 5,00,000 has a useful life of 15 years. The estimated scrap value is ₹ 50,000. The annual depreciation using the straight line method is