Elora must have RM120,000 in order to buy a piece of vacant land. She plans to save RM2,000 per year in her saving account with Amanah Bank that pays 12 percent interest rate compounded semi-annually. If Elora save for 15 years, determine if Elora would be able to buy the land.

Answer rating: 100% (QA)

To determine if Elora will be able to buy the land after saving for 15 years with an annual deposit ... View the full answer