Post Utme Delsu 2018 Commerce Question 18

Practice objective / multiple choice question 18 from the 2018 Post Utme Delsu Commerce examination.

Post Utme Delsu 2018 Commerce Objective / Multiple Choice
Question 18 POST_UTME_DELSU • 2018 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 12% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, what is the total amount in the account at the end of the fifth year?

Answer Options

A. ₦128,638.62
B. ₦129,638.62
C. ₦130,638.62
Correct Answer D. ₦131,638.62
Correct Answer
D
Correct Option:
₦131,638.62

About This Question

This is Post Utme Delsu 2018 Commerce Question 18. It is one of the objective questions from the 2018 Post Utme Delsu Commerce examination.

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