Post Utme Skyline University 2019 Commerce Question 38

Practice objective / multiple choice question 38 from the 2019 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2019 Commerce Objective / Multiple Choice
Question 38 POST_UTME_SKYLINE_UNIVERSITY • 2019 • COMMERCE • objective

A bank offers a 5-year fixed deposit account with an interest rate of 8% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, what will be the future value of the investment at the end of the fifth year?

Answer Options

Correct Answer A. ₦163,922.49
B. ₦164,922.49
C. ₦165,922.49
D. ₦166,922.49
Correct Answer
A
Correct Option:
₦163,922.49

About This Question

This is Post Utme Skyline University 2019 Commerce Question 38. It is one of the objective questions from the 2019 Post Utme Skyline University Commerce examination.

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