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How much is such a yearly saving

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Q1. An insurance agent is trying to sell you an immediate retirement plan, which for a single amount paid today, will provide you with RM12,000 at the end of each year for the next 25 years. You will earn 9% interest annually from the investment. How much you should pay today to enjoy the plan?

Q2. Praveen wish to have RM75,000 in 15 years. To accumulate this amount, he plans to make a lump-sum deposit today and earn 8% interest compounded quarterly. How much must Praveen deposit today in order to reach his goal?

Q3. Yuliana received RM10,000 as a token of appreciation from her husband by giving birth of their 1st child. She wants to finance the future study of her newly born daughter and invests this money in a fund with a maturity of 18 years offering a promising yearly return of 6%. What is the amount available on the 18th birthday of her daughter?

Q4. Thayalan has just bought a house. He estimates that the roof will have to be renewed at a cost of RM40,000 after 20 years. To cover these costs, he intends to save an equal amount of money at the end of each year, earning 5% annual interest rate. How much is such a yearly saving?

Reference no: EM133149726

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