Syariqul Haq is trying to save up for a big vacation. He plans to take a triparound Japan when he graduates in four years. If he can earn 8 percentreturn on investment semiannually, calculate the amount that he needs todeposit every year to have RM10,000 upon his graduation.(b)Hakimi borrow RM15,000 education loan from Maybank. Payments are beingmade in instalments at the end of each year. He borrows for 10 years at aninterest rate 5 percent per annum. Calculate the amount that Hakimi has topayback for every year.

Savings refers to amount held by an individual after discharging all expenses as taxes, rent,…

(a) Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he graduates in four years. If he can earn 8 percent return on investment semiannually, calculate the amount that he needs to deposit every year to have RM10,000 upon his graduation. Hakimi borrow RM15,000 education loan from Maybank. Payments are being made in instalments at the end of each year. He borrows for 10 years at an interest rate 5 percent per annum. Calculate the amount that Hakimi has to payback for every year. (b)

(a) Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he graduates in four years. If he can earn 8 percent return on investment semiannually, calculate the amount that he needs to deposit every year to have RM10,000 upon his graduation. Hakimi borrow RM15,000 education loan from Maybank. Payments are being made in instalments at the end of each year. He borrows for 10 years at an interest rate 5 percent per annum. Calculate the amount that Hakimi has to payback for every year. (b)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

See similar textbooks