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En Afifi is saving for his child college education, which will be begin in 15 years from today. En Afifi estimate the expenses to be
En Afifi is saving for his child college education, which will be begin in 15 years from today. En Afifi estimate the expenses to be RM45,000 per year for 4 years. Given annual interest rate is 6 percent. Calculate:
i. Amount that En Afifi needs to deposit in the account each year.
ii. Amount he needs to deposit if he would like to invest today instead of each year.
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