Post Utme Rsu 2023 Commerce Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Rsu Commerce examination.

Post Utme Rsu 2023 Commerce Objective / Multiple Choice
Question 22 POST_UTME_RSU • 2023 • COMMERCE • objective

A bank's financial institution offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦100,000, what is the amount after 5 years?

Answer Options

A. ₦162,947.92
B. ₦164,947.92
Correct Answer C. ₦166,947.92
D. ₦168,947.92
Correct Answer
C
Correct Option:
₦166,947.92

About This Question

This is Post Utme Rsu 2023 Commerce Question 22. It is one of the objective questions from the 2023 Post Utme Rsu Commerce examination.

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