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QUESTION 2 _(23 MARKS) Laila, 20 years old and currently still pursuing her studies in Infrastructure University Kuala Lumpur (IUKL). She will finish her studies
QUESTION 2 _(23 MARKS) Laila, 20 years old and currently still pursuing her studies in Infrastructure University Kuala Lumpur (IUKL). She will finish her studies for another 6 months and she plans to find the job. She intends to save the money from her salary in order for her to further her studies in degree level. She plans to save RM500 every month from her salary in her savings account. If she continues her degree in IUKL, she will get 30% discount and she will remain to pay about RM25,000. Every month, her father saves RM300 for her since she born. Her father saves the money for her to use it as a deposit to buy the house. Besides, her mother has invested RM10,000 in unit trust for her 3 years ago. Required: If she saves RM500 every month, how long it would be enough for her to pay RM25,000 if the interest rate is 12% compounding monthly? | (4 marks) (CLO2:PL06:C5) a. b. C. How much the amount accumulated in unit trust after 15 years if the interest rate is 15% per year? (2 marks) (CLO2:PLO6:05) How much the amount accumulated if her father saves RM300 every month for 25 years if the interest rate is 10% compounding monthly? Do you think it is enough to pay 10% deposit if the house price is RM300,000? (7 marks) (CLO2:PL06:05) Assume she pays 10% deposit from the house price of RM300,000, what is her annual payment if she borrows for 5 years at 6% interest rate? (Hint: Borrowing amount after deducts the deposit) (4 marks) (CLO2:PL06:C5) d. e. Construct the amortization table from (d). (6 marks) (CLO2:PLO6:05)
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