REVISION FOR MIDTERMEXAM 1.docx - TOPIC ONE 1 Which of the following provides the greatest annual interest A 10 compounded annually B 10 compounded


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TOPIC ONE 1. Which of the following provides the greatest annual interest? A) 10%, compounded annually B) 10%, compounded semiannually C) 10%, compounded monthly D) 10%, compounded daily 2. You have RM10,000 to invest. You do not want to take any risk, so you will put the funds in a savingsaccount at the local bank. Of the following choices, which one will produce the largest sum at the end of 22years? 3. An increase in future value can be caused by an increase in the: 4. A friend plans to buy a big-screen TV/entertainment system and can afford to set aside RM1,320 toward thepurchase today. If your friend can earn 5.0%, compounded yearly, how much can your friend spend in fouryears on the purchase? Round off to the nearest ringgit.
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  • Spring '16
  • Allan Mesina

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