Post Utme Lautech 2023 Commerce Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Lautech Commerce examination.

Post Utme Lautech 2023 Commerce Objective / Multiple Choice
Question 18 POST_UTME_LAUTECH • 2023 • COMMERCE • objective

A bank that offers a loan with an interest rate of 10% per annum and a repayment period of 5 years is an example of a

Answer Options

A. Fixed-rate loan
B. Floating-rate loan
C. Variable-rate loan
Correct Answer D. Compound interest loan
Correct Answer
D
Correct Option:
Compound interest loan

About This Question

This is Post Utme Lautech 2023 Commerce Question 18. It is one of the objective questions from the 2023 Post Utme Lautech Commerce examination.

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