Waec Model Questions Vol1 2017 Commerce Question 7
Practice objective / multiple choice question 7 from the 2017 Waec Model Questions Vol1 Commerce examination.
A customer deposits ₦500,000 in a bank that pays a nominal rate of 12 % per annum compounded quarterly. After six months the bank changes the nominal rate to 10 % per annum compounded monthly for the remaining 1.5 years. What is the amount in the account at the end of the 2‑year period? (Round to the nearest naira.)
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About This Question
This is Waec Model Questions Vol1 2017 Commerce Question 7. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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