QUESTION 3 3.1. 3.2. Mr Wiko invests RM160 on 15 January each year. On 19 December simple interest is credited at 12% but the interest is invested in a separate account and does not itself earn any interest. Calculate the total amount (Investment and interest) Mr. Wiko will have to his credit at the end of the fifth (5) year. (5 marks) Calculate the total amount of interest if a lump sum of RM5,000 is invested for 5 years at 12% per annum simple interest. (3 marks) Calculate the rate per annum of simple interest if the amount of interest over 10 years on RM800 is RM400 (3 marks) Calculate the compound interest on RM624 at 4% per annum for 10 years. (3 marks) 3.3. 3.4. 3.5. 3.6. Calculate the sum of money to be invested now at 5% per annum compound interest that will amount to RM10,000 in 10 years' time. (3 marks) Mr Joe is saving for his daughter's wedding in five years' time. He intends to save RM400 each year in a building society which will earn interest at 9% per annum, compound interest. Calculate the amount Mr. Joe will have saved by the end of the fifth year assuming that Mr Joe starts saving immediately, that is the beginning of the first year. (3 marks) Lina would like to make deposit to an account today that pays 12% interest per annum, compounded quarterly, so that she will have a balance of RM 20,000 in the account at the end of 10 years. How much should Lina deposit today? (5 marks) 3.7. QUESTION 3 3.1. 3.2. Mr Wiko invests RM160 on 15 January each year. On 19 December simple interest is credited at 12% but the interest is invested in a separate account and does not itself earn any interest. Calculate the total amount (Investment and interest) Mr. Wiko will have to his credit at the end of the fifth (5) year. (5 marks) Calculate the total amount of interest if a lump sum of RM5,000 is invested for 5 years at 12% per annum simple interest. (3 marks) Calculate the rate per annum of simple interest if the amount of interest over 10 years on RM800 is RM400 (3 marks) Calculate the compound interest on RM624 at 4% per annum for 10 years. (3 marks) 3.3. 3.4. 3.5. 3.6. Calculate the sum of money to be invested now at 5% per annum compound interest that will amount to RM10,000 in 10 years' time. (3 marks) Mr Joe is saving for his daughter's wedding in five years' time. He intends to save RM400 each year in a building society which will earn interest at 9% per annum, compound interest. Calculate the amount Mr. Joe will have saved by the end of the fifth year assuming that Mr Joe starts saving immediately, that is the beginning of the first year. (3 marks) Lina would like to make deposit to an account today that pays 12% interest per annum, compounded quarterly, so that she will have a balance of RM 20,000 in the account at the end of 10 years. How much should Lina deposit today? (5 marks) 3.7