Mr. Amit Jain has bought a house today which cost him Rs. 50 lacs by taking a loan of 30lacs for 15 years at 11% per annum compounded monthly. He currently has 10 lacs of financial assets and plans to save Rs. 3.25 lacs every year at the beginning of the year for the next 5 years. All his investments are expected to grow at a ROI of 15%per annum compounded quarterly.
What will be the net worth of Mr. Amit after 5 years if the value of the house after 5 years is expected to be 75 lacs.?
A . 8723098
B . 7465780
C . 11655750
D . 9695565
Answer: D