Post Utme Joseph Ayo Babalola University 2021 Commerce Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2021 Commerce Objective / Multiple Choice
Question 33 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2021 • COMMERCE • objective

A bank has a loan of ₦10,000,000 at an interest rate of 12% per annum. If the loan is compounded annually, what is the amount after 5 years?

Answer Options

Correct Answer A. ₦16,386,160
B. ₦16,386,160.00
C. ₦16,386,160.00
D. ₦16,386,160
Correct Answer
A
Correct Option:
₦16,386,160

About This Question

This is Post Utme Joseph Ayo Babalola University 2021 Commerce Question 33. It is one of the objective questions from the 2021 Post Utme Joseph Ayo Babalola University Commerce examination.

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