TnGo Go+ is an investment product offered by Touch 'n Go eWallet, a well-known digital wallet service in Malaysia. It is designed to provide users with the opportunity to invest their money and potentially earn returns on their investment. One of the key benefits of TnGo Go+ is that it is Shariah-compliant, adhering to Islamic principles of finance. In this blog post, we will explore the potential earnings from investing RM1000 in TnGo Go+ on a daily basis.
Understanding TnGo Go+:
Before delving into the potential daily earnings, let's briefly understand how TnGo Go+ works. TnGo Go+ is a cash management feature within the Touch 'n Go eWallet that allows users to invest their idle money. It operates as a fund management service where the invested funds are managed by principal asset managers, who aim to generate returns for the investors.
Potential Earnings on RM1000 Investment:
The earnings from investing RM1000 in TnGo Go+ can vary depending on various factors, including the prevailing market conditions and the performance of the underlying investments. As an investor, you need to bear in mind that investments in TnGo Go+, like any other investment, carry risks, and there is no guaranteed rate of return.
TnGo Go+ provides investors with an estimated indicative return, usually expressed as an annualized percentage rate (APR). However, it's important to note that this figure is not a daily return. To calculate the daily earnings, we need to divide the APR by the number of trading days in a year.
Let's assume the estimated indicative return for TnGo Go+ is 3% per annum. To calculate the daily earnings, we can use the following formula:
Daily Earnings = (Investment Amount × Estimated APR) / Trading Days in a Year
Using the above formula and assuming 250 trading days in a year, the daily earnings from a RM1000 investment in TnGo Go+ can be calculated as follows:
Daily Earnings = (RM1000 × 0.03) / 250
Daily Earnings = RM1.20
Therefore, based on the assumptions made, a RM1000 investment in TnGo Go+ may yield approximately RM1.20 in daily earnings.
Conclusion:
Investing in TnGo Go+ offers the opportunity to potentially earn returns on your idle money while adhering to Shariah principles. It's important to note that the daily earnings from investing RM1000 in TnGo Go+ can vary based on several factors, including market conditions and the performance of the underlying investments. Investors should carefully evaluate their investment objectives, consider the risks involved, and assess their own financial situation before making any investment decisions.
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