Post Utme Abu 2017 Commerce Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Abu Commerce examination.

Post Utme Abu 2017 Commerce Objective / Multiple Choice
Question 12 POST_UTME_ABU • 2017 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with a 10% annual interest rate compounded annually. If ₥0,000 is deposited at the beginning of the first year, how much will be in the account at the end of the fifth year?

Answer Options

Correct Answer A. ₦1,628.93
B. ₦2,628.93
C. ₦3,628.93
D. ₦4,628.93
Correct Answer
A
Correct Option:
₦1,628.93

About This Question

This is Post Utme Abu 2017 Commerce Question 12. It is one of the objective questions from the 2017 Post Utme Abu Commerce examination.

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