Solution-Compute the yield rate and amount repayable to the

Compute the yield rate and amount repayable to the bank

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Reference no: EM132722539

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Q1. You borrowed from Maybank RM 85,600 @ 5.6% pa a car loan; three years ago, repayable in 7 years (84 months). Your monthly installment is RM 1418.52, and you already paid for 36 months without fail. You are inherited an amount of RM 200,000 from you grandfather. These funds you want to utilise in repaying your outstanding car loan as bullet payment. Compute the yield rate and amount repayable to the bank.

Q2. To buy his favorite car, Syeed is planning to accumulate money by investing his Raya bonuses for the next five years in a security which pays 6 percent annual rate of return. The car will cost RM 115,000 at the end of the fifth year and Syeed's Raya bonus is RM 20,400 a year. Will Syeed accumulate enough money to buy the car? Prepare sinking fund table.

Q3. Ismail Berhad wants to make five equal annual savings account deposits from June 1, 2020, to be able to withdraw RM 75,000 at six annual intervals beginning June 1, 2025. The deposit with Maybank will earn 8% per annum until the account is exhausted. The controller asks you to compute the amount of the deposits that will be needed in each year.

Reference no: EM132722539

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Compute the yield rate and amount repayable to the bank

Reference no: EM132722539

Reference no: EM132722539

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