In the year 2020 you have completed your graduation with HRM specialization from HCT College and joined as an executive in the department of HRM in Petroleum Development Oman (PDO) with a salary of OMR 1650 per month. As per the PDO norms you will be retired from your employment in the year 2060. In order to lead a peaceful and secured life after your retirement, it is estimated that you should need a cash balance of OMR 200,000. a) How much money do you need to deposit now, if money compounds monthly at 8% interest rate? b) How much you need to deposit if your requirement is OMR 250,000 and you retire in the year 2065?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Q6: In the year 2020 you have completed your graduation with HRM specialization from HCT College and joined as an executive in the department of HRM in Petroleum Development Oman (PDO) with a salary of OMR 1650 per month. As per the PDO norms you will be retired from your employment in the year 2060. In order to lead a peaceful and secured life after your retirement, it is estimated that you should need a cash balance of OMR 200,000.
a) How much money do you need to deposit now, if money compounds monthly at 8% interest rate?
b) How much you need to deposit if your requirement is OMR 250,000 and you retire in the year 2065?
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