Post Utme Coal City University 2025 Commerce Question 13

Practice objective / multiple choice question 13 from the 2025 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2025 Commerce Objective / Multiple Choice
Question 13 POST_UTME_COAL_CITY_UNIVERSITY • 2025 • COMMERCE • objective

A bank offers a savings account with an interest rate of 5% per annum compounded annually. If a customer deposits ₦10,000 initially and adds ₦5,000 at the end of each year, what is the total amount in the account after 5 years?

Answer Options

Correct Answer A. ₦63,859.31
B. ₦64,859.31
C. ₦65,859.31
D. ₦66,859.31
Correct Answer
A
Correct Option:
₦63,859.31

About This Question

This is Post Utme Coal City University 2025 Commerce Question 13. It is one of the objective questions from the 2025 Post Utme Coal City 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