Post Utme Mountain Top University 2022 Commerce Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2022 Commerce Objective / Multiple Choice
Question 24 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2022 • COMMERCE • objective

A bank offers a loan of ₦100,000 at an interest rate of 10% per annum for a period of 5 years. What is the total amount that the borrower will have to pay at the end of the 5-year period?

Answer Options

A. ₦150,000
B. ₦160,000
C. ₦170,000
Correct Answer D. ₦180,000
Correct Answer
D
Correct Option:
₦180,000

About This Question

This is Post Utme Mountain Top University 2022 Commerce Question 24. It is one of the objective questions from the 2022 Post Utme Mountain Top University Commerce examination.

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