Post Utme Pan Atlantic University 2022 Commerce Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Pan Atlantic University Commerce examination.

Post Utme Pan Atlantic University 2022 Commerce Objective / Multiple Choice
Question 9 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2022 • COMMERCE • objective

A bank offers a loan of ₦100,000 at an annual interest rate of 12%. If the loan is to be repaid in 5 years, what is the monthly installment?

Answer Options

A. ₦2,500
Correct Answer B. ₦3,000
C. ₦3,500
D. ₦4,000
Correct Answer
B
Correct Option:
₦3,000

About This Question

This is Post Utme Pan Atlantic University 2022 Commerce Question 9. It is one of the objective questions from the 2022 Post Utme Pan Atlantic University Commerce examination.

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