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
Explanation
Correct Option
dVideo Explanation
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Discussions (33)

akherefavour
2 years ago
can someone tell me why did myschool change the formula of this particular question; won't it be better if they have solved it according to the schedule

Nimzyfrowh
1 year ago
please 🙏 I still find it hard to understand is there anywhere you can communicate like WhatsApp group

osaro419
2 years ago
sir how come am seeing 1+25/100 and all of a sudden am seeing 125/100 please explain






