MAT 3113

JULY 2023_NOV 2023

TUTORIAL 3

Please answer all question in foolscap paper or A4 paper and submit your answer.

1. Bella invested RM20,000 in a bank. The interest rate offered was 4.8% compounded
monthly. Find

a) the maturity value for that investment at the end of 3 years and 4 months.
b) the interest earned at the end of 3 years and 4 months.

2. Abu invested RM 30,000 in a trust fund at 7% compounded semi-annually. He

invests another 30,000 in mutual fund at 7% simple interest.

a) Find the maturity value for each investment at the end of 3 years.
b) How much does the interest amount differ?

3. Marissa took a loan of RM Y from Bank Perpaduan at an interest rate of 6.5%

compounded every two months. After 8 years, the amount to be paid is RM 8,386.65.
Find Y.

4. If Farahin invested RM200 and after t years, she got RM6,250 with interest 5.5%
compounded every six months. How long was the investment?

5. RM 23,500 was invested in a bank for 3 years and 7 months. If the interest rate
offered was 9.6% compounded every two months, find the accumulated amount at
the end of the investment period.

6. Jimmy invests RM15,000 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.

a) Find the compound amount.

b) Find the interest earned from this investment

FORMULA:
 MAT 3113

JULY 2023_NOV 2023