Post Utme Skyline University 2023 Commerce Question 19

Practice objective / multiple choice question 19 from the 2023 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2023 Commerce Objective / Multiple Choice
Question 19 POST_UTME_SKYLINE_UNIVERSITY • 2023 • COMMERCE • objective

A bank offers a loan of ₦1,000,000 at an interest rate of 12% per annum. If the loan is repayable in 5 years, what is the total amount to be repaid at the end of the loan period?

Answer Options

A. ₦1,200,000
B. ₦1,300,000
C. ₦1,400,000
Correct Answer D. ₦1,500,000
Correct Answer
D
Correct Option:
₦1,500,000

About This Question

This is Post Utme Skyline University 2023 Commerce Question 19. It is one of the objective questions from the 2023 Post Utme Skyline University Commerce examination.

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