a.Mr Hariz has just retired and has RM680,000for his retirement. He has decided to place all his money into fixed deposit that pays interest of 4% per annum. In order to overcome inflation estimated at 3% per annum, Mr Hariz first year retirement income of RM40,000 is to increase by 3% per annum. how long will his money last?

Select one: a. About 242 months. b. About 252 months. c. About 222 months. d. About 232 months.

b.

A 10-year term financing of RM250,000 with financing cost rate of 9% per annum with quarterly repayments to start 3 months after full disbursement of financing means:

Select one:

a. 10 quarterly-installment of RM9,543.34

b. 40 quarterly-installment of RM9,543.34

c. 10 quarterly-installment of RM9,334.32

d. 40 quarterly-installment of RM9,334.32