Question: Answer all the 5 question with Explanation . Thank you QUESTION: 1. You deposited RM500 every six months and wishes to have RM30,000 in 10

Answer all the 5 question with Explanation . Thank you

QUESTION:

1. You deposited RM500 every six months and wishes to have RM30,000 in 10 years. What interest rate should your account be to accumulate the fund?______%

2. You deposited RM500 every three months and wishes to have RM30,000 into an account with interest rates of 5.5% p.a. How long will it takes for you to have the amount saved ___years?

3. You borrowed RM350,000 to purchase an apartment, which will be paid in 15 years through monthly installment. The rate on the financing is 3.63% p.a. How much is your monthly commitment?

4. You paid RM13,134.35 semi-annually for a loan of RM200,000, for the next 10 years. Determine the rate of loan.

5 Property purchase at RM500,000, to be paid every quarterly in 20 years. The financing is at 3.5% annually.

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