Post Utme Christopher University 2021 Commerce Question 32

Practice objective / multiple choice question 32 from the 2021 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2021 Commerce Objective / Multiple Choice
Question 32 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • 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. ₦161,685.42
B. ₦162,000.00
C. ₦162,500.00
D. ₦163,000.00
Correct Answer
A
Correct Option:
₦161,685.42

About This Question

This is Post Utme Christopher University 2021 Commerce Question 32. It is one of the objective questions from the 2021 Post Utme Christopher University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support