b) Starting from 1* October 2020 with a fresh bank account, Chong save RM25 into the bank account every month. A fixed interest of 0.5% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a tablet worth of RM418.30 [Last days of the month] / month / year
b) Starting from 1* October 2020 with a fresh bank account, Chong save RM25 into the bank account every month. A fixed interest of 0.5% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a tablet worth of RM418.30 [Last days of the month] / month / year
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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