1. To ensure the survival of Bumiputera entrepreneurs in facing difficulties arising from the COVID-19 pandemic, the government has allocated RM300 million in the form of working capital loans under the Skim Pembiayaan Mudah Jaya (SPiM) by Majlis Amanah Rakyat (MARA), with a maximum loan limit of RM1 million with an interest rate of 3.5% per annum.

(Source: The Edge Markets)

Based on the following statement answer question below:

1. Due to pandemic, you plan to visit your friends in Vietnam in next three years. The trip is expected to cost a total of RM10,000 at that time. Your parents have deposited RM5,000 for you in a Certificate of Deposit paying 6% interest annually, maturing three years from now. Your aunty, Aunty Lily has agreed to pay for all remaining expenses. If you are going to put Aunty Lily's gift in an investment earning 10% over the next three years, how much must he deposit today, so you can visit your friends three years from today?