Mr. Afriyie recently purchased a dilapidated property in the CBD for ¢8 million. He plans to refurbish the property into a first class shopping centre and it is estimated that he has to spend ¢500,000 per month on the project for the next 5 years when the project will be completed. Calculate the true cost of the project at the time of completion if he expects returns on his capital at 1734% per annum.

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P Amount to be spent per month 500000 n 512 60 months r Month... View the full answer