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What is the most you can spend in equal amounts

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Q1. You invested RM1,650 in an account that pays 5 percent simple interest. How much more could you have earned over a 20-year period if the interest had compounded annually?

Q2. Travis invested RM9,250 in an account that pays 6 percent simple interest. How much more could he have earned over a 7-year period if the interest had compounded annually?

Q3. You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of RM50,000 today or receive payments of RM641 a month for ten years. You can earn 6% on your money. Which option should you take and why?

Q4. You have a sub-contracting job with a local manufacturing firm. Your agreement calls for annual payments of RM50,000 for the next five years. At a discount rate of 12 percent, what is this job worth to you today?

Q5. You retire at age 60 and expect to live another 27 years. On the day you retire, you have RM464,900 in your retirement savings account. You are conservative and expect to earn 4.5% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny?

Q6. If you invest RM100,000 today at 12% per year over the next 15 years, what is the most you can spend in equal amounts out of the fund each year over that time.

Reference no: EM133017554

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