Samuel opened an account in a bank with a deposit of RM3,000 during his daughter is 3 years old birthday. He aims to give her as a birthday present when she is 18 years old. If the bank pays 4.8% compounded every six months, calculate the total amount received by her daughter and the interest earned on her 18 years old birthday. No use excel.

Samuel opened an account in a bank with a deposit of RM3,000 during his daughter is 3 years old birthday. He aims to give her as a birthday present when she is 18 years old. If the bank pays 4.8% compounded every six months, calculate the total amount received by her daughter and the interest earned on her 18 years old birthday. No use excel.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 10PROB

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