Post Utme Covenant University 2018 Commerce Question 5
Practice objective / multiple choice question 5 from the 2018 Post Utme Covenant University Commerce examination.
A bank has a loan portfolio that consists of 80% fixed-rate loans and 20% variable-rate loans. If the average interest rate on the fixed-rate loans is 12% per annum and the average interest rate on the variable-rate loans is 15% per annum, what is the average interest rate on the entire loan portfolio?
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About This Question
This is Post Utme Covenant University 2018 Commerce Question 5. It is one of the objective questions from the 2018 Post Utme Covenant University Commerce examination.
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