a. Eti Biswas wants to start her own business in 9 years, and she plans to save funds to invest in the business. She has determined that she can save BDT 12,000 per year for 9 years at 9 percent interest. If the first BDT 12,000 deposit isn’t made until one year from today, how much money will she have in 9 years when she starts her business? Interpret your answer.
a. Eti Biswas wants to start her own business in 9 years, and she plans to save funds to invest in the business. She
has determined that she can save BDT 12,000 per year for 9 years at 9 percent interest. If the first BDT 12,000
deposit isn’t made until one year from today, how much money will she have in 9 years when she starts her
business? Interpret your answer.
b. Jamila Islam just retired from her job and received a pension amount of BDT 50,00,000 from her employer. She
wants to save the whole amount as fixed deposits. For that reason, she recently visited two banks to collect
information about their fixed deposits scheme. Both banks offered her a 6 percent interest rate. However, one
bank interest rate is compounded semiannually, and another bank’s interest rate is compounded monthly. In
which bank, in your opinion, Ms. Islam should save her money? What would you suggest if one bank offered a
simple interest rate of 6 percent and another bank offered a compound interest rate of 6 percent? Be specific in
your answer.
PLease try to answer both the questions. Its a request. First a then b please. At least a ASAP.
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