Juliana is considering four saving plans for her future. Each savings plan gives a different interest rate. She plans to save RM 3,500 each year for 10 years. With the savings, she plans to withdraw RM 8,000 each year for three years after the 10 year of saving period ends. Later, in the fourth and fifth year, she wants to withdraw about RM 5,000 per year. And for the following year, she wants to withdraw the remaining money from her account. Based on the interest rate given(interest rate:5%) choose the interest rate and answer the following question

(a) Estimate the remaining amount that can be withdrawn at the end of the whole period.

Answer rating: 100% (QA)

To estimate the remaining amount that can be withdrawn at the end of the whole period we need to calculate the future value of the savings plan considering the interest rate of 5 Juliana plans to save ... View the full answer