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6. Mrs Wong plans to accumulate RM100,000 when her son turns 18 (years old) so that she has money to send him to college. The

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6. Mrs Wong plans to accumulate RM100,000 when her son turns 18 (years old) so that she has money to send him to college. The son is now 2 years old. If the rate of return is 5% per annum: (i) how much would she have to save each year to achieve her target? (ii) How much would she need to invest now (in one lump sum) in order to obtain the amount? VNPS

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