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Question Margaret opened an account of RM1,500 for her daughter as a present for her when she was 7 years old. The account paid 4%
Question Margaret opened an account of RM1,500 for her daughter as a present for her when she was 7 years old. The account paid 4% compounded monthly. When her daughter was 17 years old, Margret deposited RM100 every end of the month until her daughter was 19 years old. At this time, her daughter enrolled in a college for a three-year music course. a. Find the amount accumulated in the account when her daughter was 17 years old. b. Find the amount accumulated in the account when her daughter was 19 years old. c. If her daughter intended to withdraw an equal amount at the end of each month for
for the duration of the course, find the withdrawal amount.
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