Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they have four different investments. They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next five years and will still meet their RM2 million retirement goal. Here are the current values and the growth rate of each plan: ASP : RM88,000 growing at 6.5% Pension Plan 1: RM304,000 growing at 7% Pension Plan 2: RM214,000 growing at 7.25% Personal Portfolio: RM149,000 growing at 8.5% Required: Do they have enough already invested to make their goal in five years? (5 marks) Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they have four different investments. They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next five years and will still meet their RM2 million retirement goal. Here are the current values and the growth rate of each plan: ASP : RM88,000 growing at 6.5% Pension Plan 1: RM304,000 growing at 7% Pension Plan 2: RM214,000 growing at 7.25% Personal Portfolio: RM149,000 growing at 8.5% Required: Do they have enough already invested to make their goal in five years? (5 marks)
Expert Answer:
Answer rating: 100% (QA)
No they will not have enough money in their plans to make their goal of RM2 million in ... View the full answer
Related Book For
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Posted Date:
Students also viewed these accounting questions
-
In planning for the upcoming year, managers of Manilon Industries estimated $447,000 in manufacturing overhead, 20,000 direct labor hours, and 60,000 machine hours. If overhead is applied based on...
-
Adarmes Adventures manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 2,500 canoes, 3,000 canoes, and 3,500 canoes. Canoes...
-
What other trends should retailers consider in planning for the future?
-
Suppose treacle is an array of 10 floats. Declare a pointer that points to the first element of treacle and use the pointer to display the first and last elements of the array.
-
Select the correct answer for each of the following questions. 1. According to ASC 270 and 740, income tax expense in an income statement for the first interim period of an enterprise's fiscal year...
-
1. In general, Article 2 of the UCC governs what kind of transactions? 2. What are goods? 3. The dispute here is about whether the UCC or the common law governs the trans-action. However, isnt it...
-
With reference to the example on page 443, suppose a third replicate is run. Analyze the experiment, using all 3 replicates, according to the visual procedure given in Section 13.3. Interpret the...
-
A production line operation is tested for filling weight accuracy using the following hypotheses. Hypothesis Conclusion and Action H0: = 16 .....Filling okay; keep running Ha: 16 ..... Filling off...
-
Q1. Jassim Compagny is producing only one product. Two types of direct materials are used to produce this product: direct material type( A) and direct material type B. The estimated data for Jassim...
-
1. Is Jones correct? That is, using the more complete data set, is it true that Jones has the lowest defect rate overall? Are Joness percentages correct overall (i.e., combining domestic and overseas...
-
You are meeting Mr Roger Zhang for the first time, upon request of his father, Mr Nigel Zhang, who has been your client for 10 years. Mr Nigel Zhang is 72 years old. He has three children: Lavinia,...
-
You would like to compare your firm's cost structure to that of your competitors. However, your competitors are much larger in size than your firm. Which one of these would best enable you to compare...
-
Define the content themes/idea you would like to use for each channel ( at least one per channel), the content formats for each channel ( at least one per channel) and then define the KPIs of each...
-
The company, in 2021 bought equipment that cost 500 thousand AED. The tables provide balance sheets and income statements (pro forma) for the next 6 six years. Calculate the CFFA (with any method you...
-
The income statement for Feel Good Foods shows gross profit of $156,000, operating expenses of $131,000, and cost of goods sold of $212,000. What is the amount of net sales revenue?
-
Define the core concept of structure function (0.5 pts) and describe why leak Cl- channels could be an example of the core concept of structure function (0.5 pts).
-
If a girl observes her mother putting on nail polish and asks if her nails can be painted too, which approach to gender socialization is happening? social learning approach cognitive developmental...
-
The Higher the time period of the financial security the higher the. ............... risk. O a. Maturity O b. Default and Maturity Oc. Default O d. Liquidity
-
Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Madeline is living at home and works in a shoe store, earning a gross...
-
How might you protect your credit information on the internet?
-
What is the difference between the primary market and the secondary market? What is an initial public offering (IPO)?
-
With reference to Exercise 10.55, find a large sample 95% confidence interval for the true difference of probabilities. Data From Exercise 10.55 10.55 As a check on the quality of eye glasses...
-
As a check on the quality of eye glasses purchased over the internet, glasses were individually ordered from several different online vendors. Among the 92 lenses with antireflection coating, 61...
-
Two bonding agents, \(A\) and \(B\), are available for making a laminated beam. Of 50 beams made with Agent \(A, 11\) failed a stress test, whereas 19 of the 50 beams made with Agent \(B\) failed. At...
Study smarter with the SolutionInn App