Henry graduated from Taylor's College with Diploma in Business and joined a multinational company as Marketing Executive. He has been working for a year and plans to save some amount of money for his first property. He plans to buy a property in the next 3 years. He has shortlisted his choices to the following fixed deposits: Hong Leong Bank Fixed Deposit OCBC Bank Fixed Deposit i) ii) You are required to: 1) Calculate his fixed deposits account balance after 3 years in both banks based on the following conditions: [4 marks] [7 marks] a. If he deposits RM15,000 today. b. If he deposits RM15,000 today and another RM10,000 after a year. 2) Conclude your above findings and state your recommendation to Henry. [4 marks] *Note: You are required to calculate the amount in his account after three years based on the above chosen banks latest interest rate (clear and readable evidence to be attached - 2 marks). You may refer to the banks website for the latest interest rate.

Henry graduated from Taylor's College with Diploma in Business and joined a multinational company as Marketing Executive. He has been working for a year and plans to save some amount of money for his first property. He plans to buy a property in the next 3 years. He has shortlisted his choices to the following fixed deposits: i) Hong Leong Bank Fixed Deposit ii) OCBC Bank Fixed Deposit You are required to: 1) Calculate his fixed deposits account balance after 3 years in both banks based on the following conditions: a. If he deposits RM15,000 today. [4 marks] b. If he deposits RM15,000 today and another RM10,000 after a year. [7 marks] 2) Conclude your above findings and state your recommendation to Henry. [4 marks] "Note: You are required to calculate the amount in his account after three years based on the above chosen banks latest interest rate (clear and readable evidence to be attached - 2 marks). You may refer to the banks website for the latest interest rate