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How much does hamid borrow from jimmy

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Hamid wanted to invest in ASM unit trust now and the unit trust is expected to increase in value by 10 percent per year within the next 15 years. However, he does not have enough money and would like to borrow from his friend, Jimmy.

He promises to pay Jimmy RM2,000 semi-annually for next 12 years. The prevailing interest rate for the next 12 years is at 8 percent per annum and compounded semi-annually

Question 1: How much does Hamid borrow from Jimmy based on the present value?

Question 2: What is the value of unit trust in the next 15 years?

Reference no: EM132566229

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