Post Utme Aaua 2023 Commerce Question 5

Practice objective / multiple choice question 5 from the 2023 Post Utme Aaua Commerce examination.

Post Utme Aaua 2023 Commerce Objective / Multiple Choice
Question 5 POST_UTME_AAUA • 2023 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 10% per annum compounded annually. If the initial deposit is ₦100,000, what will be the future value of the investment after 5 years?

Answer Options

Correct Answer A. ₦163,918.62
B. ₦164,918.62
C. ₦165,918.62
D. ₦166,918.62
Correct Answer
A
Correct Option:
₦163,918.62

About This Question

This is Post Utme Aaua 2023 Commerce Question 5. It is one of the objective questions from the 2023 Post Utme Aaua Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support