Iskandar earned RM500,000 a year from his estate agency for 30 years with interest rate 9% and annual sinking fund 2%. 30% tax levied on his saving deposit. Calculate the capital must be invested by Iskandar.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
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ISBN:9781337514835
Author:MOYER
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Chapter5: The Time Value Of Money
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Iskandar earned RM500,000 a year from his estate agency for 30 years with
interest rate 9% and annual sinking fund 2%. 30% tax levied on his saving
deposit.
Calculate the capital must be invested by Iskandar.
Transcribed Image Text:Iskandar earned RM500,000 a year from his estate agency for 30 years with interest rate 9% and annual sinking fund 2%. 30% tax levied on his saving deposit. Calculate the capital must be invested by Iskandar.
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