Question Ref. No: $3516$

Solve all questions accordingly.

Q$5.$ Feifei wants to buy her dream car, but short of RM $9000.$ If she could invest her entire savings of RM $3000$ at an annual interest rate of $12\%,$ how long would Feifei has to wait until she could accumulate enough money to buy the car?

Format: $30$

Q$6.$ Rose is planning her retirement and comes to the conclusion that she needs to save RM$1841000$ in $30$ years. Rose can invest into a retirement account that guarantees a $7\%$ annual return. How much does Rose have to put into her account at the end of each year to reach her retirement goal?

Format: $34398$

Q$7.$ Gansen plans to get married in $10$ years time. Gansen wants to have RM$240000$ by that time. His parents promised to give him RM$31000$ as a wedding gift on the wedding day. Given that Gansen could invest his annual deposit in an

Format : $38457$

investment account with $6\%$ annual return, how, much should he save every year?