Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away...
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Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they have four different investments. They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next five years and will still meet their RM2 million retirement goal. Here are the current values and the growth rate of each plan: ASP : RM88,000 growing at 6.5% Pension Plan 1: RM304,000 growing at 7% Pension Plan 2: RM214,000 growing at 7.25% Personal Portfolio: RM149,000 growing at 8.5% Required: Do they have enough already invested to make their goal in five years? (5 marks) Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they have four different investments. They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next five years and will still meet their RM2 million retirement goal. Here are the current values and the growth rate of each plan: ASP : RM88,000 growing at 6.5% Pension Plan 1: RM304,000 growing at 7% Pension Plan 2: RM214,000 growing at 7.25% Personal Portfolio: RM149,000 growing at 8.5% Required: Do they have enough already invested to make their goal in five years? (5 marks)
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No they will not have enough money in their plans to make their goal of RM2 million in ... View the full answer
Related Book For
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Posted Date:
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