Post Utme Skyline University 2024 Commerce Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2024 Commerce Objective / Multiple Choice
Question 38 POST_UTME_SKYLINE_UNIVERSITY • 2024 • COMMERCE • objective

A bank offers a 5-year fixed deposit with an interest rate of 10% per annum compounded annually. If a customer deposits ₦100,000, what will be the future value of the investment after 5 years?

Answer Options

Correct Answer A. ₦163,918.62
B. ₦164,918.62
C. ₦165,918.62
D. ₦166,918.62
Correct Answer
A
Correct Option:
₦163,918.62

About This Question

This is Post Utme Skyline University 2024 Commerce Question 38. It is one of the objective questions from the 2024 Post Utme Skyline University Commerce examination.

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