Arif deposits RM1,000 at the beginning of each month for ten years into a financial...
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Finance
Arif deposits RM1,000 at the beginning of each month for ten years into a financial instrument that offers dividend rate of 10% per year. He then withdraws annualized level payments of starting at the end of eleventh year and continuing for 15 years later, at dividend rate of 5% per year. At the end of 25 years, the fund balance remains zero. (a) Compute the present value of the monthly deposits he makes. (b) Calculate the annualized level payment of withdraw, . (c) Calculate the balance of the fund at the end of 15 years starting from the year he makes his first deposit.
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