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What is the allocated sum of money in year zero

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Question - WKY Sdn Bhd expects to invest in Tesla Unit Trust Sdn Bhd within the next 6 years. Once the company committed to investing, WKY intend to invest every year for a duration of 3 years only, i.e. starting with RM20,000 at the end of 6th year. It will increase investing every year by 5% in the following two (2) years after that.

In order to ensure the company has sufficient money, WKY decided to allocate a sum amount of money now, i.e. in year zero (0), so that by the 6th year that money could grow to finance the entire duration of its investment? Assume the interest rate is at 6% for all the periods. What is the allocated sum of money in year zero (0)?

Reference no: EM132992369

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