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Chapter 3: Savings and Investment, Credit and Debt

1 Melissa deposited RM 3 000 into a savings

account with interest rate 2% per annum.
Calculate the total savings received by
Melissa after 9 months.

2 The diagram below shows simple interest

rate offered by bank H and bank K.


Monthly interest Interest rate 3%

rate 0.4% per annum

Puan Aminah has RM5 000 to be

deposited into a bank for a year. Determine
which bank provides more return for Puan
Aminah. Explain your answer.

3 Adam saves RM15 000 in a bank which

offers interest rate 4% per annum.
Calculate the matured value after 2 year if
the interest is compounded
(a) half yearly
(b) quarterly

4 Sive utilised RM10 000 to buy unit trust A.

After 1 year, he sold all the unit trust and
received RM11 000. Within the period of
holding the unit trust, he received dividend
of RM200 twice. Calculate the value of
investment returns obtained by Siva.

5 Encik Rahman and Encik Amir have

RM600 000 respectively. They invest the
money as follows.

Encik Rahman saves RM600 000 in fixed

deposit account with interest rate of 4%
per annum and compounded every half

Encik Lai bought a unit of condominium

at a price of RM600 000 and managed to
earn a rent of RM3 000 per month.

Calculate the return of investment for Encik

Rahman and Encik Amir after one year.
Who is a wise investor? Give your reason.

6 Nijat received credit card statement for

june from Bank X. The June statement
shows Nijat has the current amount of RM1
000 that was used to buy a mobile phone.
She did not make payment for June. Bank
X imposed finance charge 18% annually on
the transaction of the mobile phone
purchase for 50 days, which is from the
entry date to the July statement date. Late
payment charge imposed is at a maximum
of RM10 or 1% of the outstanding balance.
Assume that Nijat did not use credit card in
July. Calculate

(a) The finance charge and the late

payment charge imposed in the July

(b) The current amount in the July


7 John made a house loan of RM187 000

from a bank with interest rate 4.5% per
annum for 20 years. Given that the monthly
instalment is RM1 198. Calculate the
amount interest payable by John for the
first three months.

8 Vijaya wishes to buy a single storey terrace

house. He is lacking of Rm100 000 cash.
He is considering to get housing loan, or to
get a personal loan from a bank for 9 years.
He finds out that personal loan interest rate
is 8% per annum.

(a) Calculate the total repayment for

personal loan.

(b) Given that the monthly instalment

payment for housing loan is RM1 251.98
and Vijaya could only afford to pay up to
RM1 400, what is the best option for
Vijaya? Give your justification.
9 Faizah made a house loan of RM280 000
from a bank with interest rate 4.1% per
year for 30 years. Given that the monthly
instalment is RM1 365.80. Calculate the
amount of interest payable by Faizah for
the first two months.

10 Mary wants to buy a new car which cost

RM12 000. She plans to get a car loan for
90% of the price of the car for 9 years from
bank A. given that the interest rate of the
car loan offered by Bank A is 3.2% per
annum. Calculate the monthly instalment of
the car loan.