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b) Ravindran has been depositing money at the end of each year into an account drawing 6.5% compound interest per annum. Calculate the balance in
b) Ravindran has been depositing money at the end of each year into an account drawing 6.5% compound interest per annum. Calculate the balance in the account at the end of year four if he deposited the following amounts: (5 marks) c) You invest RM2,500 at a variable rate of interest. Initially, the rate is 5% compounded annually for the first year, and the rate increases half percent annually (0.5%) for five years. Compute how much will you have in the account after five years
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