Q5. Feifei wants to buy her
dream car, but short of RM
4000. If she could invest
her entire savings of RM
2100 at an annual interest
rate of 12%, how long
would Feifei has to wait
until she could accumulate
enough money to buy the
car?
Q6. Rose is planning her
retirement and comes to
the conclusion that she
needs to save RM1228000
in 20 years. Rose can invest
into a retirement account
that guarantees a 6%
annual return. How much
does Rose have to put into
her account at the end of
each year to reach her
retirement goal?
Q7. Gansen plans to get
married in 10 years time.
Gansen wants to have
RM240000 by that time. His
parents promised to give
him RM58000 as a wedding
gift on the wedding day.
Given that Gansen could
invest his annual deposit in
an investment account
with 2% annual return,
how much should he save
every year?