PFS1153

ASSIGNMENT 1

NAME:
ID No:
GROUP:

QUESTION 1

Khairul borrowed RM 5,000 from a bank on 30 March 2021. If the accumulated amount
is RM 5,021.67 and the simple interest rate is 6 % per annum, find the date of repayment
by using Banker’s Rule.
(5 marks)

QUESTION 2

Goby invests RM 15,000 in an account for six years. The investment account pays 8 %
compounded semi-annually for the first two years and 9 % compounded monthly for
the rest of the period.
(i) Find the total amount in his account at the end of investment period.
(3 marks)
(ii) Calculate the total profit earned.
(2 marks)