QUESTION 2

Select any TWO commercial banks in Malaysia. Based on the saving account interest rates offered by the banks, calculate the future value of annuity of RM300,000 made at the beginning of every year for 10 years. Analyse and compare the effect of the interest rates offered by the banks on the total savings.

ASSIGNMENT RUBRICS

Criteria	Excellent	Good	Fair	Poor	Unsatisfactory	Max Marks
	4	3	2	1	0
Introduction of the selected commercial banks.	Clear and detailed introduction of the two commercial banks that covers the banks names, year of establishment, size, vision, mission and business activities.	Clear and adequate introduction of the two commercial banks that covers the banks names, year of establishment, size, vision, mission and business activities.	Clear but brief introduction of the two commercial banks that covers the banks names, year of establishment, size, vision, mission and business activities.	Vague introduction of the two commercial banks that covers the banks names, year of establishment, size, vision, mission and business activities.	No introduction was given.	4
Calculation of future value of annuity. (1st Bank).	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with detailed workings provided. Clear and detailed interpretations were given.	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with detailed workings provided. Clear interpretations were given.	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with adequate workings provided. Clear but brief interpretations were given.	Unable to identify correctly the current interest rate. Wrong calculation of future value of annuity. No workings and interpretations were given.	No calculation was given.	5
Calculation of future value of annuity. (2nd Bank).	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with detailed workings provided. Clear and detailed interpretations were given.	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with detailed workings provided. Clear interpretations were given.	Able to identify correctly the current interest rate. Correct calculation of future value of annuity with adequate workings provided. Clear but brief interpretations were given.	Unable to identify correctly the current interest rate. Wrong calculation of future value of annuity. No workings and interpretations were given.	No calculation was given.	5
Comparison of the total savings between the two commercial banks.	Able to identify and explain clearly the differences between the total savings from both banks. Able to discuss clearly the effect of the interest rate on the total savings.	Able to identify and explain briefly the differences between the total savings from both banks. Able to discuss briefly the effect of the interest rate on the total savings.	Able to identify and explain briefly the differences between the total savings from both banks. Unable to discuss the effect of the interest rate on the total savings.	Unable to identify and explain the differences between the total savings from both banks. Unable to discuss the effect of the interest rate on the total savings.	No comparison was given.	6
TOTAL						20