Post Utme Greenfield University 2018 Commerce Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2018 Commerce Objective / Multiple Choice
Question 14 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • COMMERCE • objective

A bank offers a loan with an interest rate of 10% per annum compounded annually. If the principal amount is ₦100,000, how much will be the amount after 5 years?

Answer Options

Correct Answer A. ₦163,922.89
B. ₦164,922.89
C. ₦165,922.89
D. ₦166,922.89
Correct Answer
A
Correct Option:
₦163,922.89

About This Question

This is Post Utme Greenfield University 2018 Commerce Question 14. It is one of the objective questions from the 2018 Post Utme Greenfield 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