Answers To Viewers Queries

Hi MoNey MinTing ManTra™, 

I am rahul from Bangalore working as a software engineer my current gross annual salary is Rs.15 Lakhs.

My question is:

1)      I want to know how much i can save by investing Rs.1,50,000 /-  for the exemption under section 80 C.

2)      I want to plan for a Europe trip with my family after 5 years. Let me know how much do i require for the entire trip and how much i need to save monthly to achieve this goal.

Thanks in advance for your valuable guidance on this.

Mr.Rahul thanks for  sharing your aspiration with us:

1. I want to know how much i can save by investing Rs.1,50,000 /-  for the exemption under section 80 C.?

         Ans: You can save Rs.46,350 /- by investing Rs.1.5 Lakhs U/S 80 C.

    Here’s  How:  

1.    2. I want to plan for Europe trip with my family after 5 years.?

Ans:  Expenses required for Europe trip:

                                  

Funding Options For Europe Trip:

•    If you save Rs.46,350/- ( as shown above) yearly for 5  years at the rate of 12% per annum you  can accumulate  the corpus of Rs 3,29,789 / - .

•    You need to save Rs. 4,504/- monthly for 5 years from  which you can build the corpus of Rs.3, 71,407 /-

Happy Investing!