You decide to begin saving towards the purchase of a new laptop in 3 years. If you put RM 1,000 at the end of each of the next 3 years in a savings account paying 4 percent compounded annually, how much will you accumulate after 3 years? What would be the ending amount if the payments were made at the beginning of each year?
i)Payment made at the end of the year(annuity arrea)
Level payment=RM 1000
ii)Payment made at beginning of the year (annuity immediate)