MANAGEMENT

BUISENESS MANAGEMENT

FINANCIAL MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Ms. Chan is 45 years old and she always wishes to retire as a millionaire by the age of 55. Recently, Ms. Chan receives RM500 000 from her father’s will. Suppose she invests the money in an investment account that can earn 8% interest per annum. Will Ms. Chan be able to achieve her retirement goal?
A
Yes, Ms. Chan will be able to achieve her retirement goal. In fact, it will only take her 9 years to retire as a millionaire at the age of 54 with this amount of investment.
B
Yes, Ms. Chan will be able to achieve her retirement goal.Howeever, she needs to invest half of the amount, RM250 000, in an investment account that yields a higher return of at least 10% to have a million ringgit in ten years.
C
No, Ms. Chan will not be able to achieve her retirement goal. She needs to continue working for another 5 years to be able to have a million in her financial profile.
D
None of the above
Explanation: 
There is 1 question to complete.