Question: SECTION A: STRUCTURED QUESTIONS (30 MARKS) ANSWER ALL QUESTIONS QUESTION 1 (10 marks) a. Suria deposited RM2,000 in a bank in 2020, and the bank

SECTION A: STRUCTURED QUESTIONS (30 MARKS) ANSWER ALL QUESTIONS QUESTION 1

SECTION A: STRUCTURED QUESTIONS (30 MARKS) ANSWER ALL QUESTIONS QUESTION 1 (10 marks) a. Suria deposited RM2,000 in a bank in 2020, and the bank pays a 12% annual return. How much will be accumulated in Suria's account after seven years? (3 marks) b. Farid deposits RM1,200 every year in Nova Bank, and the return is at 15% per year. How much will be accumulated in his account after five years? (3 marks) c. Shamsul bought a new Perodua Myvi at the price of RM55,000. He borrowed from EON Bank to make the payment. How much is the annual payment if the loan must be settled in 9 years and EON Bank charges him 7% annually? (4 marks)

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