QUESTION 1 CLO1 20 Marks a) Ammar wants to be a millionaire by age 45. At the age of 23 years old, he drafts a master plan by investing RM 13,800 per year starting now and will increase the amount at a constant rate of RM 10,200 in each of the last 6 years. If the value of Ammar's investment portfolio reaches RM 1,213,500 at the end of age 45, with no others deposit made to the account over the period, calculate the annual rate of return Ammar will make. (10 Marks) b) For the following series of income and expenses, if the equivalent value in year 9 is RM- 74,803, estimate the x value at an interest rate of 11% per year. (10 Marks) Expense (RM) 55,000 11,000 Years 0 1-6 7-9 10-13 14-18 Income (RM) 0 8,300 X 26,000 25,800 16,500 15,800 5,600 L QUESTION 1 CLO1 20 Marks a) Ammar wants to be a millionaire by age 45. At the age of 23 years old, he drafts a master plan by investing RM 13,800 per year starting now and will increase the amount at a constant rate of RM 10,200 in each of the last 6 years. If the value of Ammar's investment portfolio reaches RM 1,213,500 at the end of age 45, with no others deposit made to the account over the period, calculate the annual rate of return Ammar will make. (10 Marks) b) For the following series of income and expenses, if the equivalent value in year 9 is RM- 74,803, estimate the x value at an interest rate of 11% per year. (10 Marks) Expense (RM) 55,000 11,000 Years 0 1-6 7-9 10-13 14-18 Income (RM) 0 8,300 X 26,000 25,800 16,500 15,800 5,600 L