Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can anyone pls answer this question with both banks upto date interest rates Dania graduated from Taylor's College with Diploma in Business and joined an

can anyone pls answer this question with both banks upto date interest rates
image text in transcribed
Dania graduated from Taylor's College with Diploma in Business and joined an international company as a Marketing Executive. She has been working for few years and earnings RM42,000 per annum. She would like to save some of her money to buy her first property. She has shortlisted her choices to the following fixed deposits: i) Maybank Islamic Fixed Deposit-i Hong Leong Bank Fixed Deposit You may refer to the banks website for the latest interest rate. You are required to calculate her fixed deposits account balance as at 31 December 2025 in both banks and state your recommendation with reasons [5 marks] based on the following conditions: a) she deposits RM6,000 on 1 January 2022 and hold for three years until 31 December 2025. [4 marks] b) she deposits RM3,000 twice on 1 January 2022 and 1 January 2023 [10 marks] c) she deposits RM2,000 on 1 January 2022, RM2,000 on 1 January 2023 and RM2,000 on 1 January 2024. [14 marks] *Note: You are required to calculate the amount in his account after three years based on the above chosen banks latest interest rate (evidence to be attached - 2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inside Company Valuation

Authors: Angelo Corelli

1st Edition

3319537822, 9783319537825

More Books

Students also viewed these Finance questions

Question

How could any of these verbal elements be made stronger?

Answered: 1 week ago

Question

Does your message use pretentious or exaggerated language?

Answered: 1 week ago