Question: Need help! Thanksss (b) Using an example of an individual planning for his/her son's education fund, explain the concepts of single sum and annuities. (8

Need help! Thanksss (b) Using an example of an individual planning

Need help! Thanksss

(b) Using an example of an individual planning for his/her son's education fund, explain the concepts of single sum and annuities. (8 marks) (c) You decide to save the RM10,000 given to you by your grandmother in your savings account. By the end of the 5th year, what is the value of this RM10,000 if the savings account receives a nominal interest rate of 4% per annum compounded semi-annually? (2 marks)

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