- Vishal, aged 46 years and Aditi, aged 43 years, they have a son Ajay, aged 16 years and a daughter Priti, aged 12 Vishal has been investing Rs. 35,000 in an Equity mutual fund scheme in the beginning of each year from last 10 years. Each child will spend 3 years at college, starting from their respective age 21 years. The current cost of higher education in college is Rs. 2.5 Lakh p.a. for each child. Vishal wants to know the amount he should be investing in the beginning of every month, starting immediately and up to date of the first withdrawal, to pay for his children’s higher education requirements. (Inflation -6% pa, return on equity MF scheme – 12% pa)
- a) 7,853
- b) 8,840
- c) Rs.6,183
- d) Rs. 8,942
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