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. Al - IkhsanCollegeoffersstudentsachoiceofmorethan 3 0 differentmajorsofstudy,including business, engineering, hospitality management and information technology. College personnel of Al - Ikhsan work closely with students to
AlIkhsanCollegeoffersstudentsachoiceofmorethandifferentmajorsofstudy,including business, engineering, hospitality management and information technology. College personnel of AlIkhsan work closely with students to help them find financial aid. Amazingly, about onehalf of the students at AlIkhsan College receive some kind of financial aid. Abdul Rahman Aziz had years of experience when he went to work in Human Resources at Al Ikhsan College at a salary of RM He began work on his th birthday. The college matches his contributions to his retirement plan up to of his salary. Answer the following questions. i Abdul Rahman decides to contribute a total of of his salary to his retirement plan. So American River contributes and he contributes a full of his salary. Find the total annual contribution to the retirement plan. M a r k s i Forplanningpurposes,AbdulRahmanassumeshewillworkatAlIkhsanCollegeuntilhe is and believes he can earn per year in a global stock fund. Assume the contributions continue at the same level as in question i and estimate the future value. Marks ill. Assume that there are fulltime faculty members at AlIkhsan College and that their average income is $ per year. Find the annual payroll for the faculty. Marks iv Based on the annual payroll in question ii estimate the annual contributions AlIkhsan College must make into retirement plans fi all faculty contribute at least of their salary into their own plans. Marks v Assume that awealthy donor has agreed to give AlIkhsan College RM per year for the next years. Find the present value oft h e s e gifts, assuming per year. vi Marks AlIkhsan College has decided to build a new classroom building and will need RM in years. They decide to make contributions into a sinking fund at the end of each month period. Find the payment needed fi funds earn per year. Marks
AlIkhsanCollegeoffersstudentsachoiceofmorethandifferentmajorsofstudy,including business, engineering, hospitality management and information technology. College personnel of AlIkhsan work closely with students to help them find financial aid. Amazingly, about onehalf of the students at AlIkhsan College receive some kind of financial aid. Abdul Rahman Aziz had years of experience when he went to work in Human Resources at Al Ikhsan College at a salary of RM He began work on his th birthday. The college matches his contributions to his retirement plan up to of his salary. Answer the following questions.
i Abdul Rahman decides to contribute a total of of his salary to his retirement plan. So American River contributes and he contributes a full of his salary. Find the total annual contribution to the retirement plan. M a r k s
i Forplanningpurposes,AbdulRahmanassumeshewillworkatAlIkhsanCollegeuntilhe is and believes he can earn per year in a global stock fund. Assume the contributions continue at the same level as in question i and estimate the future value.
Marks
ill. Assume that there are fulltime faculty members at AlIkhsan College and that their average income is $ per year. Find the annual payroll for the faculty. Marks
iv Based on the annual payroll in question ii estimate the annual contributions AlIkhsan College must make into retirement plans fi all faculty contribute at least of their salary
into their own plans. Marks
v
Assume that awealthy donor has agreed to give AlIkhsan College RM per year for the next years. Find the present value oft h e s e gifts, assuming per year.
vi
Marks
AlIkhsan College has decided to build a new classroom building and will need RM in years. They decide to make contributions into a sinking fund at the end of each month period. Find the payment needed fi funds earn per year.
Marks
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