Ah Heng, Baldu and Syafic are planning to go on a trip to Dubai in 3 years.
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Question:
Ah Heng, Baldu and Syafic are planning to go on a trip to Dubai in 3 years. In order to support their vacation, they have decided to do some savings with their respective choice of bank.
- a) Ah Heng decided to invest in a saving accounts with Bank A, which could earn him a simple interest of 6% per annum. He deposited $5,000 into this account.
- b) Baldu decided to invest $6,000 with Bank B, which could earn him a simple interest of 4% per annum.
- c) Syafic has deposited $5,500 in a fixed account with Bank C, with the term simple interest of 4.5% per annum.
If the three of them deposited and withdraw the money at the same time, rank them based on the highest to the lowest value that they can withdraw from their respective account.
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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