Post Utme Mountain Top University 2025 Commerce Question 3

Practice objective / multiple choice question 3 from the 2025 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2025 Commerce Objective / Multiple Choice
Question 3 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • COMMERCE • objective

A bank offers a savings account with a 5% annual interest rate compounded monthly. If a customer deposits ₦100,000 into the account and leaves it for 2 years, what is the total amount in the account at the end of the 2-year period?

Answer Options

A. ₦121,000
B. ₦122,000
C. ₦123,000
Correct Answer D. ₦124,000
Correct Answer
D
Correct Option:
₦124,000

About This Question

This is Post Utme Mountain Top University 2025 Commerce Question 3. It is one of the objective questions from the 2025 Post Utme Mountain Top University Commerce examination.

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