Mr. Adebayo is currently on an annual Salary of 2.5 million with Tapal petroleum corporation. Under the terms of his employment, he is to contribute 5% of his annual salary towards a retirement plan set up by his employer. The employer supplements the employees' contribution by another 5%. Mr. Adeoye has 10 years to retire and the retirement fund presently has an accumulated fund of 4.4 million. The retirement fund is normally invested in assets providing an annual yield of 16%. How much will Mr. Adeoye receive on his retirement?

Okafor purchased a house for 24 million. He negotiated for 15 year mortgage with first mortgage investment and company ltd at 24% interest charge (Compounded monthly) It is however envisaged that Maduka could secure a mortgage at 13% from Fatosa savings and loans limited in five years time. How much will maduka have to pay monthly to Fatosa savings and loans limited to liquidate the debt?