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QUESTION 4 a) Inworking capital management, assets are classified as permanent or temporary assets. Briefly explain both types of assets with examples. (8 marks) b) The following questions pertain to the time value of money: I) i) ii) Miss Lola has an insurance policy with ZXY Insurance. It has now matured, and her insurance agent has offered the following options: Option 1: The insurance company will make annual payments of RM55,000 at the end of each year for the next six years, or Option 2: She will receive a lump sum payment of RM400,000 after 6 years. Miss Lola has approached you for your advice. Help Miss Lola to decide as to which option she should accept if her annual rate of return is 8 percent. Give your justification. Assume you have borrowed RM25,000 for education loan from Romaine Bank. Payments are being made in annual end-of-year installments. You borrow for 9 years, and the interest rate is 8 percent per annum. Determine the amount you will have to pay annually in 9 years. Mr. Sulaiman aims to accumulate RM30,000 for his future study plan. To do so, he plans to make annual deposits of RM2,500 into a bank account paying 9 percent interest compounded annually. Find the number of years he must wait to have RM30,000 in his account. (12 marks)