Post Utme Esut 2020 Commerce Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Esut Commerce examination.

Post Utme Esut 2020 Commerce Objective / Multiple Choice
Question 3 POST_UTME_ESUT • 2020 • 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, what is the future value of the investment after 5 years?

Answer Options

Correct Answer A. ₦163,922
B. ₦164,922
C. ₦165,922
D. ₦166,922
Correct Answer
A
Correct Option:
₦163,922

About This Question

This is Post Utme Esut 2020 Commerce Question 3. It is one of the objective questions from the 2020 Post Utme Esut Commerce examination.

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