1. RM600 is invested for 4 years 10 months. This investment is offered an interest rate of 9% compounded every three months for the first 2 years and 7% compounded monthly for the rest of the period.(No use excel) Calculate a)the amount at the end of the investment period.(RM873.66) b) the interest earned.(RM273.66)
1. RM600 is invested for 4 years 10 months. This investment is offered an interest rate of 9% compounded every three months for the first 2 years and 7% compounded monthly for the rest of the period.(No use excel) Calculate a)the amount at the end of the investment period.(RM873.66) b) the interest earned.(RM273.66)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 21PROB
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1. RM600 is invested for 4 years 10 months. This investment is offered an interest rate of
9% compounded every three months for the first 2 years and 7% compounded monthly
for the rest of the period.(No use excel)
Calculate
a)the amount at the end of the investment period.(RM873.66)
b) the interest earned.(RM273.66)
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