c. Sarah would like to make a single investment and have RM2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4% annually. How much will Sarah have to invest today? (3 marks)

d. You wish to have accumulated RM15,000 at the end of 15 years in order to pay for your childs education. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 6% compounded annually, how much must you deposit each year to reach your goal. (4 marks)