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(Solved):   Osman intends to invest RM12,000 for his son education. He has two options, - Bank \( X \) ...



Osman intends to invest RM12,000 for his son education. He has two options,
- Bank \( X \) offers a \( 6.5 \% \) interest com

 

Osman intends to invest RM12,000 for his son education. He has two options, - Bank \( X \) offers a \( 6.5 \% \) interest compounded monthly. - Bank \( Y \) offers \( 7.2 \% \) interest compounded semi-annually. If he wants to invest for twenty years, i. calculates the total amount for each option. ii. find the difference of interest between each of the option. iii. which bank should he choose to invest in and why? (3 marks) (4 marks)


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To find amount we use formula: A=P(1+rn)n.t A = total amount P = principal or amount of money deposited, r = annual interest rate n =
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