A person wants to deposit RM10,000 per year for 6 years. If interest is earned at the
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Question:
A person wants to deposit RM10,000 per year for 6 years. If interest is earned at the rate of 10 percent per year, compute the amount to which the deposits will grow by the end of the 6 years if:
(a) Deposits of RM10,000 are made at the end of each year with interest compounded annually.
(b) Deposits of RM5,000 are made at the end of each 6-month period with interest compounded semiannually
(c) Deposits of RM2,500 are made at the end of every quarter with interest compounded quarterly.
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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