Post Utme Madonna University 2017 Commerce Question 39

Practice objective / multiple choice question 39 from the 2017 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2017 Commerce Objective / Multiple Choice
Question 39 POST_UTME_MADONNA_UNIVERSITY • 2017 • COMMERCE • objective

A bank has a savings account with an interest rate of 5% per annum. If the account holder deposits ₦100,000 and the interest is compounded annually, how much will the account balance be after 5 years?

Answer Options

Correct Answer A. ₦132,631.16
B. ₦135,000.00
C. ₦137,500.00
D. ₦140,000.00
Correct Answer
A
Correct Option:
₦132,631.16

About This Question

This is Post Utme Madonna University 2017 Commerce Question 39. It is one of the objective questions from the 2017 Post Utme Madonna University Commerce examination.

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