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a. Miss Azlin wish to invest her money to buy a house in 3 years, she has RM20,000 that she can deposit in any of
a. Miss Azlin wish to invest her money to buy a house in 3 years, she has RM20,000 that she can deposit in any of three savings accounts. Option 1 : Suria Bank, compounds interest on an annual basis. Option 2 : ZM Bank, compounds interest twice each year. Option 3 : MA Bank, compound interest each quarter year. All three banks have a stated annual interest rate of \6. Calculate the amount that Miss Azlin would have at the end of the third year. (9 Marks) b. On the basis of your findings in question 4(a), which bank should Miss Azlin deposit her money at? Explain your answer. (1.5 Mark) c. Suppose your grandfather offers you a choice of receiving RM 10,000 in 15 years or RM 870 today. If the money is discounted at \8 which options, should you choose. (2 Marks)
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