Post Utme Bsu 2023 Commerce Question 23

Practice objective / multiple choice question 23 from the 2023 Post Utme Bsu Commerce examination.

Post Utme Bsu 2023 Commerce Objective / Multiple Choice
Question 23 POST_UTME_BSU • 2023 • 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, what is the total amount in the account after 5 years?

Answer Options

Correct Answer A. ₦163,922.92
B. ₦164,922.92
C. ₦165,922.92
D. ₦166,922.92
Correct Answer
A
Correct Option:
₦163,922.92

About This Question

This is Post Utme Bsu 2023 Commerce Question 23. It is one of the objective questions from the 2023 Post Utme Bsu Commerce examination.

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