Post Utme Pan Atlantic University 2020 Commerce Question 15

Practice objective / multiple choice question 15 from the 2020 Post Utme Pan Atlantic University Commerce examination.

Post Utme Pan Atlantic University 2020 Commerce Objective / Multiple Choice
Question 15 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • COMMERCE • objective

A bank offers a loan with a 5-year term and an annual interest rate of 10%. If the borrower pays ₦100,000 as the principal amount, how much will the borrower pay in total at the end of the 5-year term?

Answer Options

Correct Answer A. ₦163,918.62
B. ₦164,918.62
C. ₦165,918.62
D. ₦166,918.62
Correct Answer
A
Correct Option:
₦163,918.62

About This Question

This is Post Utme Pan Atlantic University 2020 Commerce Question 15. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Commerce examination.

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