Neco 2022 Commerce Question 50

An investor holds shares in two companies, A and B. Company A pays a dividend equal to 5% of its market price each year and its share price is expected to increase by 8% per year. Company B pays a dividend equal to 4% of its market price each year and its share price is expected to increase by 6% per year. Initially the investor owns 150 shares of A at \(\text{₦}2,500\) each and 200 shares of B at \(\text{₦}1,800\) each. Dividends are received annually and immediately reinvested at the prevailing market price of the respective stock. After 3 years the investor plans to sell all of the B shares and enough A shares to obtain a net cash amount of \(\text{₦}800,000\) after paying a broker's commission of 1.5% on the total sale proceeds. Assuming the investor sells all B shares first, what is the minimum number of A shares that must be sold? (Give the answer as a whole number of shares.)