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How much money must be put into a bank account

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Q1. How much money must be put into a bank account yielding 5.5% annually in order to have RM250 at the end of five years?

Q2. If you want to have RM1,700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly.

Q3. En. Azman has confirmed that the company will get an additional investment worth of RM1 million from his partner company based in Indonesia. His partner promises to inject the money now and want to see the investment growth result in 5 years. If the growth rate is 7% per annum, what is the future value of the investment?

Reference no: EM132935506

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