Post Utme Al Hikmah University 2020 Commerce Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Al Hikmah University Commerce examination.

Post Utme Al Hikmah University 2020 Commerce Objective / Multiple Choice
Question 31 POST_UTME_AL-HIKMAH_UNIVERSITY • 2020 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 8% per annum compounded annually. If a customer deposits ₦100,000, how much will the customer receive at the end of the 5-year period?

Answer Options

Correct Answer A. ₦132,983.18
B. ₦133,219.19
C. ₦133,455.21
D. ₦133,691.24
Correct Answer
A
Correct Option:
₦132,983.18

About This Question

This is Post Utme Al Hikmah University 2020 Commerce Question 31. It is one of the objective questions from the 2020 Post Utme Al Hikmah University Commerce examination.

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