Dania graduated from Taylor's College with Diploma in Business and joined an international company as a...

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Dania graduated from Taylor's College with Diploma in Business and joined an international company as a Marketing Executive. She has been working for few years and earnings RM42,000 per annum. She would like to save some of her money to buy her first property. She has shortlisted her choices to the following fixed deposits: i) Maybank Islamic Fixed Deposit-i Hong Leong Bank Fixed Deposit You may refer to the banks website for the latest interest rate. You are required to calculate her fixed deposits account balance as at 31 December 2024 in both banks and state your recommendation with reasons [5 marks] based on the following conditions: a) she deposits RM6,000 on 1 January 2022 and hold for three years until 31 December 2024. [4 marks] b) she deposits RM3,000 twice on 1 January 2022 and 1 January 2023 [10 marks] c) she deposits RM2,000 on 1 January 2022, RM2,000 on 1 January 2023 and RM2,000 on 1 January 2024. [14 marks] *Note: You are required to calculate the amount in his account after three years based on the above chosen banks latest interest rate (evidence to be attached - 2 marks). Dania graduated from Taylor's College with Diploma in Business and joined an international company as a Marketing Executive. She has been working for few years and earnings RM42,000 per annum. She would like to save some of her money to buy her first property. She has shortlisted her choices to the following fixed deposits: i) Maybank Islamic Fixed Deposit-i Hong Leong Bank Fixed Deposit You may refer to the banks website for the latest interest rate. You are required to calculate her fixed deposits account balance as at 31 December 2024 in both banks and state your recommendation with reasons [5 marks] based on the following conditions: a) she deposits RM6,000 on 1 January 2022 and hold for three years until 31 December 2024. [4 marks] b) she deposits RM3,000 twice on 1 January 2022 and 1 January 2023 [10 marks] c) she deposits RM2,000 on 1 January 2022, RM2,000 on 1 January 2023 and RM2,000 on 1 January 2024. [14 marks] *Note: You are required to calculate the amount in his account after three years based on the above chosen banks latest interest rate (evidence to be attached - 2 marks).

Answer rating: 100% (QA)

a She deposits RM6000 on 1 January 2022 and hold for three years until 31 December 2024 Maybank Islamic Fixed Depositi rate 170 pa compounded monthly Interest earned in 2022 RM6000 x 17012 x 12 RM102 ... View the full answer