A [RBF] - BBMF 2113 PFP FINAL X BBMF2113 202105 QUESTION.pox pass year 2020.docx : BBMF 211 X Course Hero Homework Help - Q&A from On x + drive.google.com/file/d/1ZOCVHB90JgLpJRT3PymxmBAjpdhCVr9V/view PDF BBMF2113 202105 QUESTION.pdf Open with 7 BBMF2113 PERSONAL FINANCIAL PLANNING Question 4 (a) (b) Azman is planning for retirement. He has diligently set aside a portion of his income every month for his retirement. He is now 51 years old and has successfully accumulated RM623,000 retirement fund at an interest return of 8% per annum. Now he has to postpone his retirement from 2 years' time to 9 years' time due to the Covid-19 pandemic. Despite the economic downturn, he is confident that he would be able to earn 5% per annum return on his retirement fund. Required: (i) (ii) (iii) Assume Azman saves RM9,000 per year at the end of each year from now to the beginning of his retirement, compute the additional amount that he can accumulate. (4 marks) Compute the total retirement fund that Azman will have when he retires in 9 years' time based on the retirement fund that he has accumulated today and the answer in part (a) (i) above. (6 marks) Azman expects that he will not be living for more than 28 years after his retirement. Compute the maximum amount of withdrawal that Azman can make at the beginning of every year during his retirement. (5 marks) Discuss ANY FIVE (5) reasons why, although aware of the importance of estate planning, many people still delay in their estate planning or are not planning at all. (10 marks) [Total: 25 marks] Page 7/7 - Q + + [ < ... I M ...