Question: Mr Azlan is a young engineer whom had just start working. He is planning to invest RM300.00 of his monthly salary in a Hajj
Mr Azlan is a young engineer whom had just start working. He is planning to invest RM300.00 of his monthly salary in a Hajj Fund. He plans to invest for ten years with a Hajj Fund that pays 6% dividend per year. (a) Calculate future value when deposit is made at the end of each year. (b) If Mr Azlan decided to increase his saving by RM600 per year, and deposit is made at the end of each year, calculate its future value. (c) If the cost of making Hajj for the next ten years is RM50,000, explain whether Mr Hasbul is making a good investment? Propose a better alternative investment strategy for Mr Azlan to help him achieve his dreams.
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