Q1/ On May 20, Ali joined a retirement saving club. His bank will automatically deduct...
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Q1/ On May 20, Ali joined a retirement saving club. His bank will automatically deduct BD 120 from his checking account at the end of each month, and deposit it into his retirement saving account, where it will earn 8% annual interest. The account comes to term on October 4. Analysis of the following:
a. Future value of Alis retirement saving club account. ( 2 Marks )
b. Alis total contribution to the account. (2 Marks)
c. Total interest earned on the account. (2 Marks) Q2/ Calculate the future value of an ordinary annuity with BD 130 quarterly payments at 4% annual interest for 10 years. Q3/ Find the FV of an ordinary annuity with BD 160 semi-annual payments at 6% annual interest for 14 years. Subject: MATHEMATICS OF INVESTMENT
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