PT Manajemen Aset Aman issues an investment product with guaranteed deposit features as follows: 1. The customer
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Question:
PT Manajemen Aset Aman issues an investment product with guaranteed deposit features as follows:
1. The customer places an initial investment once at the beginning of the year.
2. The basic interest rate of 5% is effective per annum.
3. At the beginning of each year, a management fee of 1% of the initial investment will be deducted from the investment balance.
With the above features, determine the amount of money that can be withdrawn if the investment period is 10 years and the initial investment placement is 1000? Round the answer to the nearest unit.
a. 1.497
b. 1.529
c. 1.562
d. 1.594
e. 1.629
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