Waec Model Questions Vol1 2020 Commerce Question 11
Practice objective / multiple choice question 11 from the 2020 Waec Model Questions Vol1 Commerce examination.
A customer deposits ₦100,000 in a bank that offers a nominal interest rate of 8% per annum compounded quarterly. After 2 years the bank changes the nominal rate to 9% per annum compounded semi‑annually for the next 3 years. What is the total amount in the account at the end of the 5‑year period? (Round to the nearest naira.)
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About This Question
This is Waec Model Questions Vol1 2020 Commerce Question 11. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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