Post Utme Noun 2021 Commerce Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Noun Commerce examination.

Post Utme Noun 2021 Commerce Objective / Multiple Choice
Question 3 POST_UTME_NOUN • 2021 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 8% per annum compounded annually. If the principal amount is ₦100,000, what is the future value of the investment?

Answer Options

A. ₦163,918.19
B. ₦164,918.19
Correct Answer C. ₦165,918.19
D. ₦166,918.19
Correct Answer
C
Correct Option:
₦165,918.19

About This Question

This is Post Utme Noun 2021 Commerce Question 3. It is one of the objective questions from the 2021 Post Utme Noun Commerce examination.

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