Post Utme Noun 2024 Commerce Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Noun Commerce examination.

Post Utme Noun 2024 Commerce Objective / Multiple Choice
Question 38 POST_UTME_NOUN • 2024 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 12% per annum compounded annually. If the initial deposit is ₦100,000, what is the amount after 5 years?

Answer Options

Correct Answer A. ₦163,922.58
B. ₦164,922.58
C. ₦165,922.58
D. ₦166,922.58
Correct Answer
A
Correct Option:
₦163,922.58

About This Question

This is Post Utme Noun 2024 Commerce Question 38. It is one of the objective questions from the 2024 Post Utme Noun Commerce examination.

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