Question: This is a subjective question, hence you have to write your answer in the Texi-Field given below. (a) Mr. Ram Prasad invests $500,000 in a

This is a subjective question, hence you have to write your

This is a subjective question, hence you have to write your answer in the Texi-Field given below. (a) Mr. Ram Prasad invests $500,000 in a fixed deposit for 10 years with OCBC bank in Singapore. The deposit will earn an interest of 7% per annum. Assume annual compounding, what will be the value of Mr. Prasad's investment at the end of 10 years? [2] (b) Mr. Mehul Shah has just purchased a Maruti Alto car for Rs. 300,000 from the Saboo car dealership in Nacharam, Hyderabad. He paid cash of Rs. 50,000 and financed the rest of the cost with a 3 year vehicle loan from IClCl bank that requires equal monthly payments at the end of each month over the next 3 years. What is the monthly payment amount on the loan if the interest rate is 15% per annum? [2] (c) Distinguish between ordinary annuity vs. annuity due. [2]

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