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Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they
Puan Aminah and Encik Hamdan are husband and wife. Both of them are five years away from retirement. In planning for the retirement, they have four different investments. They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next five years and will still meet their RM2 million retirement goal. Here are the current values and the growth rate of each plan: ASP : RM88,000 growing at 6.5% Pension Plan 1: RM304,000 growing at 7% Pension Plan 2: RM214,000 growing at 7.25% Personal Portfolio: RM149,000 growing at 8.5% Required: Do they have enough already invested to make their goal in five years? (5 marks)
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