Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the account earns 17%, how much will be in the account at the end of the 20years? Once attends church once in a year during the watch night and uses the occasion to pay his tithe of GH¢50. Assuming his tithe account in Heaven grows at the rate of 24% what is the PV of his investment if he lives for the next 20 years. Smart heard about the Ghana Govt’s ‘Smart Borrowing’ concept and borrowed GH¢15,000 to have a successful wedding and pledged his wife & future uncertain children as collateral security. He wants to pay off the loan in 12 monthly instalments otherwise the bank will come for his wife & children born to them since they were pledged as collateral for the loan. What should the monthly repayments be if the annual interest rate is 18%?

Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the account earns 17%, how much will be in the account at the end of the 20years? Once attends church once in...

Jun 03, 2022