on the Nissan Cefiro amounting to RM40,000. Should he pre-decease Anita, Raj plans to provide RM36,000 per annum for Anita till she reaches age 70. He would also like to
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- Hanifa is planning to construct his dream house. For this, he needs to borrow $4M from a local bank. The bank’s financing terms allows Hanifa to borrow any amount for a term of 5 years, with 6% interest per annum. The said interest is to be collected in advance by the bank. How much must be the principal amount of Hanifa’s loan so that his financing needs is met?Your uncle Mohammed is celebrating his 33th birthday today and wants to start saving for his retirement at the age of 63. He wants to be able to withdraw AED 100,000 from his saving account on each birthday for 20 years following his retirement. The first withdraw will be on his 64th birthday. Your uncle intends to invest his money in a local bank in Abu Dhabi that offers 7% interest rate per year. He wants to make equal payments on each birthday into the account established in the local bank for his retirement fund. If your uncle has just inherited a large sum of money, so instead of making equal payments, he has decided to pay one lump sum payment on his 33th birthday to cover his retirement needs. What amount does he have to deposit?Your uncle Mohammed is celebrating his 33th birthday today and wants to start saving for his retirement at the age of 63. He wants to be able to withdraw AED 100,000 from his saving account on each birthday for 20 years following his retirement. The first withdraw will be on his 64th birthday. Your uncle intends to invest his money in a local bank in Abu Dhabi that offers 7% interest rate per year. He wants to make equal payments on each birthday into the account established in the local bank for his retirement fund. If your uncle starts making these deposits on his 33th birthday and continues to make deposits until he is 63, what amount must he deposit annually to be able to make the desired withdrawals at retirement?
- Your uncle Mohammed is celebrating his 33th birthday today and wants to start saving for his retirement at the age of 63. He wants to be able to withdraw AED 100,000 from his saving account on each birthday for 20 years following his retirement. The first withdraw will be on his 64th birthday. Your uncle intends to invest his money in a local bank in Abu Dhabi that offers 7% interest rate per year. He wants to make equal payments on each birthday into the account established in the local bank for his retirement fund. If your uncle starts making these deposits on his 33th birthday and continues to make deposits until he is 63, what amount must he deposit annually to be able to make the desired withdrawals at retirement? If your uncle has just inherited a large sum of money, so instead of making equal payments, he has decided to pay one lump sum payment on his 33th birthday to cover his retirement needs. What amount does he have to deposit? If your uncle’s employer informs your uncle…Mr. Emre has reached his sixtieth birthday and is ready to retire. Mr. Emre has no formal education in finance, but he saved his money and invested carefully. Emre Bey has a house and wants to inherit this house to his children. Mr.Emre saved 300000 USD by making an investment. Investments provide a 12 percent return. In addition, Mr. Emre has a deposit account of USD 50000 in Gelişim Bank with interest payments every three months and an interest rate of 10%. Emre Bey wants to keep this account intact for unexpected expenses or emergencies. Mr. Emre's basic living expenses are currently on average 2500 USD per month. He has to rely on his portfolio to maintain this planned standard of living. The return of Mr. Emre's portfolio is 36000 USD per year (12 percent of 300.000 USD) or 3000 USD per month. In this case, what would you recommend for Emre Bey? Can he safely spend the entire interest of his investment portfolio? How much money can he withdraw from this portfolio at the end of the…Mr. Emre has reached his sixtieth birthday and is ready to retire. Mr. Emre has no formal education in finance, but he saved his money and invested carefully. Emre Bey has a house and wants to inherit this house to his children. Mr.Emre saved 300000 USD by making an investment. Investments provide a 12 percent return. In addition, Mr. Emre has a deposit account of USD 50000 in Gelişim Bank with interest payments every three months and an interest rate of 10%. Emre Bey wants to keep this account intact for unexpected expenses or emergencies. Mr. Emre's basic living expenses are currently on average 2500 USD per month. He has to rely on his portfolio to maintain this planned standard of living. The return of Mr. Emre's portfolio is 36000 USD per year (12 percent of 300.000 USD) or 3000 USD per month. Suppose that Emre Bey will live another 15 years and is willing to use his entire investment portfolio during this time. He also wants his monthly spending to increase with inflation in this…
- Mr. Emre has reached his sixtieth birthday and is ready to retire. Mr. Emre has no formal education in finance, but he saved his money and invested carefully. Emre Bey has a house and wants to inherit this house to his children. Mr.Emre saved 300000 USD by making an investment. Investments provide a 12 percent return. In addition, Mr. Emre has a deposit account of USD 50000 in Gelişim Bank with interest payments every three months and an interest rate of 10%. Emre Bey wants to keep this account intact for unexpected expenses or emergencies. Mr. Emre's basic living expenses are currently on average 2500 USD per month. He has to rely on his portfolio to maintain this planned standard of living. The return of Mr. Emre's portfolio is 36000 USD per year (12 percent of 300.000 USD) or 3000 USD per month. In this case, what would you recommend for Emre Bey? Can he safely spend the entire interest of his investment portfolio? How much money can he withdraw from this portfolio at the end of the…In 2020, JungKook earns RM 12,000 monthly. He has four children, and his wife is a housewife. He contributes 11% monthly to EPF from his gross salary and RM150 monthly for his life insurance, He paid RM200 monthly for his medical. He bought a new laptop for RM4000 for one of his children. His eldest child is studying in a university, his second child is handicapped in secondary school, his third child is in primary and his youngest is in kindergarten. Calculate his tax payable for the assessment year 2021.Aziz is planning to attend college when she graduates from high school four years from now. She has made an arrangement with her father to do the household chores if her dad deposits R3570,00 at the end of every six months for the next four years into a bank account. The account pays 8,5% interest per annum, compounded semi-annually. Her father pays and additional R5550,00 into the account for every R3570,00 deposit he makes. The first deposit will be made six months from now. How much money will there be in the account for Aziz to pay for her college expenses?
- 1. James (aged 33) and his wife, Jennie (aged 30), have just purchased a new condominium for $550,000. They plan to take a 80% mortgage loan of $440,000 for the next 35 years. Raj has the following assets: BMW car $65,000 stocks on (stock exchange of America) $180,000 group insurance by his employers $400,000 personal insurance $250,000 James has a hire purchase loan on the BMW car amounting to $40,000. Should he pre-decease Jennie, James Plans to provide $36,000 per annum for Jennie till she reaches age 70. James would also like to create an Emergency Buffer fund of $50,000 and Final Expenses fund of $35,000. Using the CAPITAL LIQUIDATION method, compute the amount of additional life insurance that James needs to purchase. Assume a discount rate of 4% per annum and that income is received at the end of the period. www 2. In the example above; as life mortality is uncertain, James would like to provide for his wife, Jennie, an income of $36,000 for an indefinite time period. Using the…1. James (aged 33) and his wife, Jennie (aged 30), have just purchased a new condominium for $550,000. They plan to take a 80% mortgage loan of $440,000 for the next 35 years. Raj has the following assets: BMW car $65,000 stocks on (stock exchange of America) $180,000 group insurance by his employers $400,000 personal insurance $250,000 James has a hire purchase loan on the BMW car amounting to $40,000. Should he pre-decease Jennie, James Plans to provide $36,000 per annum for Jennie till she reaches age 70. James would also like to create an Emergency Buffer fund of $50,000 and Final Expenses fund of RM35,000. Using the CAPITAL LIQUIDATION method, compute the amount of additional life insurance that James needs to purchase. Assume a discount rate of 4% per annum and that income is received at the end of the period. 2. In the example above; as life mortality is uncertain, James would like to provide for his wife, Jennie, an income of $36,000 for an indefinite time period. Using the…A mother earned $17500.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The home balance will be used for her sons future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $840.00, how much money was invested at each rate? How much money was invested in the CD account? (Round to the nearest cent.) How much money was invested in the savings bond? (Round to the nearest cent.)