Convincing Features
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Question 4
a. Suzana plans to retire and buy a house in Alor Star, Kedah. She has been eyeing a house at currently costs RM 150 000 and is expected to increase in value at a rate of 5% annually. Assuming she can earn 10% annually on her investments, how much must she invest at the end of each year for the next 20 years to be able to buy her dream house when she retires. (5 Marks)
b. Ashira place RM25 000 in a saving account paying an annual compound interest of 8% for 3 years and then moves it into a saving account that pays 10% interest compounded annually. How much will her money grow at the end of 6 years. (5 Marks)
c. Puan Sri Wati purchase a yacht for RM35 000 and pay RM5 000 downpayment. She agrees to pay the rest over the next 10 years in 10 equal annual end of year payment. Calculate the amount of each payment if the interest is 5%.
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