b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank account every month. A fixed interest of 0.8% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a smartphone worth RM3126.00 *display your final answer as: [last day of the month] / month / year
b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank account every month. A fixed interest of 0.8% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a smartphone worth RM3126.00 *display your final answer as: [last day of the month] / month / year
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank
account every month. A fixed interest of 0.8% is given on the last day of every month. Determine
the date (the last day of a month after the interest is given) where he will be able to purchase a
smartphone worth RM3126.00
*display your final answer as: [last day of the month] / month / year](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ad694d3-98af-4268-b27c-697d5095f589%2Fbd1a793a-abd8-4596-bd1f-1b60b06f4e8f%2Fuu5wl2i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank
account every month. A fixed interest of 0.8% is given on the last day of every month. Determine
the date (the last day of a month after the interest is given) where he will be able to purchase a
smartphone worth RM3126.00
*display your final answer as: [last day of the month] / month / year
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