d. Calculate the future value or the terminal value of an investment of N$120,000 made for three years at 20% per annum. (8 marks)

e. Old Mutual Namibia is advertising a kids investment plan that seeks to turns kids aged between 5 and 10 years into millionaires 20 years from today giving out an interest of 20% compounded annually. What is the annual investment that a parent should make to reach the objective of making their children millionaires in 20 years time? (16 marks)