Even if the bank provided the same interest rate, which option would give a higher total savings after 5 years? Explain.
Assume that you plan to buy an apartment 5 years from now and you need to save for a down payment. You plan to save RM2,500 per year with the first deposit made immediately (at the beginning of the year), and you will deposit the funds in a bank account that pays 4% interest. How […]