Lily has RM10,000 that she can deposits in any of three savings accounts for a three year period. Bank A pays interest on annual basis, Bank B pays interest twice each year, and Bank C pays interest each quarter. All three banks have a stated annual interest rate of 4%. 

Required: 

What amount would Lily has at the end of the third year, leaving all interest paid on deposit, in each bank?

What effective interest rate would she earn in each of the bank?

Based on your findings which bank should Lily deal with? Why?

b. You plan to lend RM150,000 from the bank at an interest of 8% for 10 years. Prepare, an amortization table for 10 years.

c. You are saving money to buy a house. You will need RM8,000 to make the down payment. If you are able to deposit RM500 per month in a savings account which pays 1% per month, how long will it take you to save RM8,000? 

d. Ali is planning for his son's future education, and he has estimated he will require RM60,000 six years from today. Calculate the amount that he needs to save for every year for six years if he earns an 12% semi-annually return on his deposit.