Post Utme Redeemers University 2018 Commerce Question 25

Practice objective / multiple choice question 25 from the 2018 Post Utme Redeemers University Commerce examination.

Post Utme Redeemers University 2018 Commerce Objective / Multiple Choice
Question 25 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 10% per annum. If the initial deposit is ₦100,000, what will be the total amount after 5 years?

Answer Options

Correct Answer A. ₦163,922
B. ₦164,000
C. ₦164,100
D. ₦164,200
Correct Answer
A
Correct Option:
₦163,922

About This Question

This is Post Utme Redeemers University 2018 Commerce Question 25. It is one of the objective questions from the 2018 Post Utme Redeemers University Commerce examination.

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