PT Bank Makmur issued a Mujur Deposit product with the following features: Customer must...
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PT Bank Makmur issued a Mujur Deposit product with the following features: Customer must place funds for a multiple of 1 year and funds may not be withdrawn in that period. The basic interest rate of 8% is effective per annum. At the end of every 3 years, the customer will get a bonus equal to 2% of the balance on the bonus date. The bonus will be added to the deposit balance and receive the basic interest. With the feature above, what is the interest rate equivalent to the savings product above if the initial fund placement period is 9 years? Round the answer to the nearest decimal. a. 8.48% ; b. 8.72% ; c. 8.95% ; d. 9.10% ; e. 9.32%
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