Post Utme Osustech 2024 Commerce Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Osustech Commerce examination.

Post Utme Osustech 2024 Commerce Objective / Multiple Choice
Question 25 POST_UTME_OSUSTECH • 2024 • COMMERCE • objective

A bank has a loan of ₦1,000,000 at an interest rate of 12% per annum. If the loan is compounded annually, what is the amount after 5 years?

Answer Options

Correct Answer A. ₦1,917,918
B. ₦1,849,849
C. ₦1,800,000
D. ₦1,700,000
Correct Answer
A
Correct Option:
₦1,917,918

About This Question

This is Post Utme Osustech 2024 Commerce Question 25. It is one of the objective questions from the 2024 Post Utme Osustech Commerce examination.

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