Question #2:

a) Rokon plans to save Tk 1500 every month for the next four years, starting today. At the end of four years, rokon will turn 30 years old and plans to use his savings toward the down payment on a house. He opens the account with Tk 100,000. If his investment in the savings account will earn him 10 percent annually, where interest will be earned monthly, how much will he have saved in four years when he buys his house? (5 Marks)

b) ABC Company is planning to borrow $1,000,000 on a 3 year 15% annual payment fully amortized term loan for starting construction work. Set up the amortization Table. Show all the calculations. (5 Marks)

Question #2: a) Rokon plans to save Tk 1500 every month for the next four years, starting today. At the end of four years, rokon will turn 30 years old and plans to use his savings toward the down payment on a house. He opens the account with Tk 100,000. If his investment in the savings account will earn him 10 percent annually, where interest will be earned monthly, how much will he have saved in four years when he buys his house? (5 Marks) b) ABC Company is planning to borrow $1,000,000 on a 3 year 15% annual payment fully amortized term loan for starting a construction work. Set up the amortization Table. Show all the calculations