A man wishes to keep his money in a savings deposit at 25% compound interest
MATHEMATICS
JAMB 2000
A man wishes to keep his money in a savings deposit at 25% compound interest so that after three years he can buy a car for N150,000. How much does he need to deposit?
- A. N112,000.50
- B. N96,000.00
- C. N85,714.28
- D. N76,800.00
Correct Answer: D. N76,800.00
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