Mr Shawn has just retired and has RM560,000for his retirement. He decided to place all his retirement fund into fixed deposit and spend RM40,000 per annum during his entire retirement phase. Assuming the banks pays interest of 3.7% annually, how long will his money last?

The cash price of a washing machine is RM2,000. A customer is given an alternative to pay by monthly installment of RM95 per month for 24 payments. The first installment due one month after the purchase. The implied effective cost of installment scheme?

With retirement fund of RM925,050, Mr Ramesh was told that the fund will last for 15 years only if he were to spend RM80,000 annually even if inflation is ignored in the projection. Mr Ramesh would like his retirement fund to last for 20 years without incurring additional risk on retirement fund that was to earn a return of 4% per annum. How much should be his annual retirement fund?

A 10-year term financing of RM250,000 with financing cost rate of 9% per annum with quarterly repayments to start 3 months after full disbursement of financing means?

1. Mr Hariz has just retired and has RM680,000for his retirement. He has decided to place all his money into fixed deposit that pays interest of 4% per annum. In order to overcome inflation estimated at 3% per annum, Mr Hariz first year retirement income of RM40,000 is to increase by 3% per annum. how long will his money last?
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3. Francis bought 10,000 shares in Maxims at the beginning of the year at RM10 which increased to RM12 at the end of the year. Assuming net dividend of 20 sen was paid at the end of the year, how much is the return on the investment?
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5. Supposing you are required to pay an additional RM50 for using your credit card to purchase an item that cost RM2,000 and you settle one month after the date of transaction without any interest levied on the account. What is the implied EAR of the transaction?

Answer rating: 100% (QA)

1 To calculate how long Mr Shawns retirement fund will last we can use the formula for the future value of a single sum Future Value Principal Amount 1 Interest RateNumber of Years In this case the fu... View the full answer