Neco Model Questions Vol1 2025 Commerce Question 27
Practice objective / multiple choice question 27 from the 2025 Neco Model Questions Vol1 Commerce examination.
A retailer needs \(₦2,000,000\) for expansion. He can raise part of the amount by a bank loan at \(12\%\) simple interest per annum and the rest by issuing shares that require a dividend of \(8\%\) per annum on the amount raised. If the total annual interest and dividend payments are to be exactly \(₦180,000\), how much should be raised by the loan and how much by equity?
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This is Neco Model Questions Vol1 2025 Commerce Question 27. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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