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Holu Huqa Arbale has just bought a scratch lottery ticket and won sh.1,000,000. He wants to finance the future study of his newly born daughter

Holu Huqa Arbale has just bought a scratch lottery ticket and won sh.1,000,000. He wants to finance the future study of his newly born daughter and invests this money in a fund with a maturity of 18 years offering a promising yearly return of 10%. What is the amount available on the 18th birthday of his daughter? (3 marks)

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