Jamie Lee Jackson, age 23, has recently decided to switch from attending college part-time to full-time in order to purse her business degree and aims to graduate within the next three years. Since has 55 credit hours remaining to ern her bachelor's degree, and knows that it will be a challenge to complete her course of study while still working part-time in the bakery department of a local grocery store, where she earns RM390 a week. Jamie wants to keep her part-time job at the grocery store, as she loves baking and creates very decorative cakes. She dreams of opening her own cupcake caf within the next five years. She also realizes that by returning to school full-time, she will forgo any free time that she enjoys now socializing with friends.

Jamie Lee currently shares a small apartment with a friend, and they split all of the associated living expenses, such as rent and utilities. She would really like to eventually have a place of her won. Her car is still going strong, even though it is seven years old, and she has no plans to buy a new one any time soon. She is carrying a balance on her credit card and is making regular monthly payments of RM50 with hopes of paying it off within a year. Jamie has also recently taken out a student loan to cover her educational costs and expenses. Jamie Lee also began depositing RM1,800 a year in a savings account that earns 2 percent interest, in hopes of having the RM9,000 down payment needed to start the cupcake caf two years after graduation.

Current Financial Situation

Checking account: RM1,250

Emergency fund savings account: RM3,100

Car: RM4,000

Student loan: RM400

Gross annual Salary: RM2,125

Net monthly salary: RM1,560

Jamie Lee needs to save a total of RM9,000 to get started in her cupcake caf venture. She is presently depositing RM1,800 a year in a regular savings account earning 2 percent interest. How much will she have accumulated five years from now in this regular savings account, assuming she will be leaving her emergency fund savings account balance untouched and for a rainy day?