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Will syeed accumulate enough money to buy car and explain

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Reference no: EM132721652

Problem 1: To buy his favorite car, Syeed is planning to accumulate money by investing his Raya bonuses for the next five years in a security which pays 6 percent annual rate of return. The car will cost RM 115,000 at the end of the fifth year and Syeed's Raya bonus is RM 20,400 a year. Will Syeed accumulate enough money to buy the car? Prepare sinking fund table.

Reference no: EM132721652

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