Mr Joe is trying to plan for retirement in 10 years, and currently he has RM150,000 in a saving account and RM250,000 in common stocks. In addition, Mr Joe plans to add to his savings by depositing RM8,000 per year at the end of each year for the last 5 years until retirement.

Question

i. Assuming his saving account offers returns 8 percent compunded annually while his investment in stocks will give out returns 12 percent compunded annually, how much will Mr Joe have at the end of 10 years? (Ignore taxes)

Answer 1

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