Post Utme Christopher University 2018 Commerce Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2018 Commerce Objective / Multiple Choice
Question 23 POST_UTME_CHRISTOPHER_UNIVERSITY • 2018 • COMMERCE • objective

A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦10,000, how much will be owed after 5 years?

Answer Options

Correct Answer A. ₦16,386.16
B. ₦16,386.19
C. ₦16,386.21
D. ₦16,386.23
Correct Answer
A
Correct Option:
₦16,386.16

About This Question

This is Post Utme Christopher University 2018 Commerce Question 23. It is one of the objective questions from the 2018 Post Utme Christopher University Commerce examination.

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