196 Financial Management for Beginners Chapter Question 2 Sonata has won a lottery worth RM30.000. She wishes to purchase an an th RM30,000. She wishes to purchase an annuity that would provide her with a steady income over the next 15 years. Currently, the local banks and he next 15 years. Currently, the local banks and financial institutions are paying 8% compound interest on an annual basis. If she were to depos u interest on an annual basis. If she were to deposit her funds, what year-end equal dollar amount would she be able to withdraw annually that she would have a zero able to withdraw annually that she would have a zero balance after her last withdrawal 15 years from now? Que Azla can fift Question 3 You are planning to retire in 10 years' time and buy a condominium at the Cherating seaside. Presently, the condominium costs RM200,000 and is expected to increase in value each year at the rate of 7%. Suppose you can earn 12% annually on your investments, how much must you invest at the end of each of the next 10 years to be able to buy your dream condominium when you retire? Question 4 Juliet nurchased a car for RM85.000. She paid RM25,000 upfront and agreed to pay the rest over the