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On 1 January 2020, Aiman invested an amount of RMI 200 in a bank that pays a dividend of 10% per annum if he did not withdraw after a full year. Aiman decided not to make any withdrawals from the bank until his savings exceed RM4 500.

On 1 January 2020, Aiman invested an amount of RMI 200 in a bank that pays a dividend of 10% per annum if he did not withdraw after a full year. Aiman decided not to make any withdrawals from the bank until his savings exceed RM4 500.

Essentials Of Investments
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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3 On 1 January 2020, Aiman invested an amount of RMI 200 in a bank that pays a dividend of 10% per annum if he did not withdraw after a full year. Aiman decided not to make any withdrawals from the bank until his savings exceed RM4 500.
Transcribed Image Text:3 On 1 January 2020, Aiman invested an amount of RMI 200 in a bank that pays a dividend of 10% per annum if he did not withdraw after a full year. Aiman decided not to make any withdrawals from the bank until his savings exceed RM4 500.
3-a) Caleulate the total amount of money in Aiman's bank account on 1 January 2030. When will Aiman withdraw his money and how much is it the exact amount he will have?
Transcribed Image Text:3-a) Caleulate the total amount of money in Aiman's bank account on 1 January 2030. When will Aiman withdraw his money and how much is it the exact amount he will have?
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