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Question 1 (a) Dr. Tan is a lecturer by profession. He has been saving in XYZ Bank every 3 months once, a fixed amount of
Question 1 (a) Dr. Tan is a lecturer by profession. He has been saving in XYZ Bank every 3 months once, a fixed amount of money for the past 3 years. The table below shows the quarterly deposits that were made between 2018 and 2020. Year 2018 2019 2020 Quarterly deposits (RM) RM 1,000 RM 1,100 RM 1,600 Find the accumulated amount of Dr. Tan's investment at the end of 2020 if he was offered 6.5% interest compounded quarterly. (15 marks) (b) Ms. Nurin plans to buy a condominium worth RM 580,000 located in Subang Jaya with a 20% down payment towards financing the house. Determine the monthly payment of the housing loan, if Nurin was offered 4.5% interest compounded monthly for 25 years
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