haileyw123
25.11.2021 •
Mathematics
A man estimates that he will need N5 million to purchase a house in 3 years' time. He invests #2.5 million at 9½% per annum compound interest, adds #500 000 to his investment at the end of the first year, and adds a further #600 000 at the end of the second year. By how much will the sum available after 3 years be greater or less than the #5 million needed?
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