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Question 3: 20 marks a. To save for her newborn son's college education, Kelli Peterson will invest RM1,500 at the end of each year for

Question 3: 20 marks

a. To save for her newborn son's college education, Kelli Peterson will invest RM1,500 at the end of each year for the next 18 years. The interest rate she expects to earn on her investment is 9%. How much money will she have saved by the time her son turns 18? (10 marks)

b. Briefly explain how does tax avoidance differ with tax evasion. (10 marks)

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