Raymond just inherited RM12000. How much should Raymond deposit in an account earning 3% interest per year if he would like to have RM19442 in his account in 20 years? Include a cash flow diagram to your solution. Round your answer to the closest 2 decimal places

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A: Future value  The value of the current investment on a future date is called the future value. The…

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A: Here the deposits are made annually while the interest is compounded monthly. Thus we first need to…

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A: Present Value = pv = €1000Interest rate = r = 4%Future Value = fv = 1000 * 3 = €3000

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A: Given: Particulars Amount Amount $20,000 Years 5 Interest rate 10%

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A: Rate of interest refers to the percentage of return on the investment.

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A: Future value refers to the worth of a certain asset in the future date. Formula= PV(1+r)n

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A: Solution:Perpetuity refers to the equal cash flow per period forever.We know, value of perpetuity =…

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A: Down payment amount = $22,000 Down payment ratio = 11%

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A: Dear student, this question is asking about the annual contribution, here to calculate the annual…

Q: What is the Rate of Interest?

A: Given  P= 10000 A=5000 n=1year r=?

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A: Information Provided: Amount saved (down payment) = $18,000 Down Payment = 11%

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Q: 2. If you decided to save the entire $20,000 from your lottery payment each year for the next 20…

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Q: Raymond just inherited $10000. How much should Raymond deposit in an account earning 6% interest per…

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Q: b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank account…

A: For given future periodic payment PMT = 320 i= 0.008 Target future value =3126