Post Utme Al Hikmah University 2019 Commerce Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Al Hikmah University Commerce examination.

Post Utme Al Hikmah University 2019 Commerce Objective / Multiple Choice
Question 7 POST_UTME_AL-HIKMAH_UNIVERSITY • 2019 • COMMERCE • objective

A bank offers a savings account with a 5% annual interest rate. If a customer deposits ₦10,000 into the account, how much will the customer have after 2 years, assuming the interest is compounded annually?

Answer Options

A. ₦11,025
Correct Answer B. ₦11,050
C. ₦11,075
D. ₦11,100
Correct Answer
B
Correct Option:
₦11,050

About This Question

This is Post Utme Al Hikmah University 2019 Commerce Question 7. It is one of the objective questions from the 2019 Post Utme Al Hikmah University Commerce examination.

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