Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Question
Elora must have RM120,000 in order to buy a piece of vacant land. She plans to save RM2,000 per year in her saving account with Amanah Bank that pays 12 percent interest rate compounded semi-annually. If Elora save for 15 years, determine if Elora would be able to buy the land.
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