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You wish to have RM75,000 in 15 years. To accumulate this amount, you plan to make a lump-sum deposit today and earn 8% interest compounded

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You wish to have RM75,000 in 15 years. To accumulate this amount, you plan to make a lump-sum deposit today and earn 8% interest compounded annually. Assume that at the end of year five, you will receive RM 20,000 and deposit this amount in the bank that pays 8% annually as well. In addition to this deposit, how much must you deposit today in order to reach your goal

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