Mr. Anderson, a pharmacist and the owner of a block of flats located at Twabidi, a first-class residential area in Accra anticipates that he will need to provide a new staircase in 8 years at an estimated cost of ¢7,500,000. If capital can be invested at 9.52% per annum, what amount should be invested to meet the future liability?

Answer rating: 100% (QA)

Time Period 8 Years Interest rate 952 per annum Cost of New Stair Case 7500000 ... View the full answer