An engineer who is planning for his daughters higher education plans to start depositing money now (year

An engineer who is planning for his daughter’s higher education plans to start depositing money now (year 0) and continue through year 17. If he deposits RM9000 each year with an interest rate of 6%, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22 when the saving is transferred to another bank with interest rate of 4% ? 

Answer rating: 100% (QA)

Since Principal 9000 interest rate 6 and years 18 The future value an... View the full answer