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7. Compute the following: (a) You invest RM12,000 today at 9% per year compounded every 4 months. How much will you have after 25 years?

7. Compute the following:

(a) You invest RM12,000 today at 9% per year compounded every 4 months. How much

will you have after 25 years? (4 marks)

(b) How much must Sally set aside each year to accumulate RM100,000 after 20 years?

The interest rate is 11%. (4 marks)

that he just took out? The interest rate is 10%. (4 marks)

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