A trader needs N300,000.00 to improve her business, she deposits N110,000.00 in her savings account at 5% per annum compound interest. She then adds N150,000.00 to her
savings at the end of each year.
(a)
(b)
Find her total savings after 3 years.
By how much is her savings greater or less than N300,000.00 at the end of the
third year?
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