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How much will a loaf of bread cost in years

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Reference no: EM132745322

Questions -

(i) A loaf of bread today costs RM1.28. If grocery prices are going up at the rate of 8% per year, how much will a loaf of bread cost in 6 years?

(ii) The average price of new homes is RM138,500. If new home prices are increasing at a rate of 15% per year, how much will a new home cost in 12 years?

(iii) Amy has just bought a scratch lottery ticket and won RM10,000. He wants to finance the future study of his newly born daughter and invests this money in a fund with a maturity of 18 years offering a promising yearly return of 6 percent. What is the amount available on the 18th birthday of his daughter?

(iv) Cumin will receive RM100,000 when he retired, forty years from today. If inflation averages is 3 percent for the next forty years, how much would that amount be worth measured in today's Ringgit?

Reference no: EM132745322

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