Finance Question

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Finance Question

You are a FinTech entrepreneur providing robo-advisory services. John Tan is a customer who is interested to make use of your robo-advisory service to plan for his long-term investment goal.

Client’s Profile

John Tan is an investment analyst, 25 years old and have been working for about two years. He is currently buying his first HDB flat with his wife-to-be. In 8 years’ time, he hopes to purchase a second property – a condominium for investment.

He is investing through your robo-advisor to realise his financial goal. He has available savings of about $20,000 now and is prepared to contribute $500 per month into his investment funds.

You can assume that a condominium is about $1.5M and to be able to buy it, he needs to pay 20% of the price upfront as down payment at the time of purchase.

Based on the information given, and state clearly, any other assumptions that you have made, calculate the required annualised return he will need from his investment, to afford the down payment of a condominium in 8 years’ time

 

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