Question

QUESTION 3 On 21st Feb 2020, Fatima invest RM14,350 in a Koperasi KPTM that gives 9.9% simple interest rate. She withdraws all her money on 9th August 2020. a) Find the investment period. b) Calculate the amount accumulated at the end of invement period. (2 marks) (3 marks)​

Answer 1

Explanation:

(a) To find the investment period, we need to calculate the number of days between 21st February 2020 and 9th August 2020.

21st February 2020 is day 1 of the investment period, and 9th August 2020 is day 171 (since it is a leap year).

Therefore, the investment period is 171 days.

(b) To calculate the amount accumulated at the end of the investment period, we can use the formula for simple interest:

I = P * r * t

where:

I = interest earned

P = principal amount (RM14,350)

r = interest rate (9.9% or 0.099)

t = time period in years (171 days is approximately 0.468493 years)

Plugging in the values, we get:

I = 14,350 * 0.099 * 0.468493

I = RM670.28

The amount accumulated at the end of the investment period is equal to the principal plus the interest earned, which is:

RM14,350 + RM670.28 = RM15,020.28

Therefore, the amount accumulated at the end of the investment period is RM15,020.28.