Post Utme Pan Atlantic University 2025 Commerce Question 26
Practice objective / multiple choice question 26 from the 2025 Post Utme Pan Atlantic University Commerce examination.
A firm is considering setting up a new bank account to manage its cash flows. The bank account will require an initial deposit of ₦100 million and will have an annual maintenance fee of ₦20,000. The firm's current cash balance is ₦500 million, and the bank account will earn an interest rate of 8% per annum. What is the expected annual interest income from the bank account?
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About This Question
This is Post Utme Pan Atlantic University 2025 Commerce Question 26. It is one of the objective questions from the 2025 Post Utme Pan Atlantic University Commerce examination.
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