Question: based on below annuity please explain on Able to discuss clearly in detail the importance of time value of money concept in financial decision making

based on below annuity please explain on Able to discuss clearly in detail the importance of time value of money concept in financial decision making to individuals and discuss effect of the interest rate on the total savings.

The future value of the annuity of RM 100,000 at the beginning of the year has been calculated on excel using the FV formula as follows:

Annuity	1,00,000
No. of Periods	20
Interest Rates:
Affin Bank	4.00%
BSN	3.55%
The investment is made at beginning of the year. (TYPE 1 to be used in the formula)


Future Value of Annuity
Affin:	3,096,920.17
BSN:	2,943,452.10

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