Post Utme Babcock University 2017 Commerce Question 13

Practice objective / multiple choice question 13 from the 2017 Post Utme Babcock University Commerce examination.

Post Utme Babcock University 2017 Commerce Objective / Multiple Choice
Question 13 POST_UTME_BABCOCK_UNIVERSITY • 2017 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 10% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, how much will the customer have at the end of the fifth year?

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 Babcock University 2017 Commerce Question 13. It is one of the objective questions from the 2017 Post Utme Babcock University Commerce examination.

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