FINANCE

QUESTION 4 I. 2. Given (a) RM15,OOO for 32 years at 11% a year. (b) RM7,OOO for 40 weeks at 5% a year. (c) RM8,OOO for 20 months at 4% a year. Find (i) simple interest earned, and (ii) simple amount. Lucy wishes to invest RM8,OOO in a fixed deposit account for one year. She has two options: HSBC Bank Malaysia Berhad which offers 3.35% interest compounded annually. Citibank Berhad which offers 3.3% interest compounded semi-annually. Which bank should Lucy choose? Give your reason.