i. Ahmad invested RM40,000 at 6% compounded quarterly. This investment is to support his children’s education. Now, his children are 15,12 and 9 years old. Equal amount will be withdrawn when they reach 18 years old. Find the mount for each withdrawal. ii. Find the accumulated value of RM1,400 for 15 months at 6% compounded continuously
i. Ahmad invested RM40,000 at 6% compounded quarterly. This investment is to support his children’s education. Now, his children are 15,12 and 9 years old. Equal amount will be withdrawn when they reach 18 years old. Find the mount for each withdrawal. ii. Find the accumulated value of RM1,400 for 15 months at 6% compounded continuously
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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i. Ahmad invested RM40,000 at 6% compounded quarterly. This investment is to support his children’s education. Now, his children are 15,12 and 9 years old. Equal amount will be withdrawn when they reach 18 years old. Find the mount for each withdrawal.
ii. Find the accumulated value of RM1,400 for 15 months at 6% compounded continuously
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