Post Utme Unilag 2019 Commerce Question 25

Practice objective / multiple choice question 25 from the 2019 Post Utme Unilag Commerce examination.

Post Utme Unilag 2019 Commerce Objective / Multiple Choice
Question 25 POST_UTME_UNILAG • 2019 • COMMERCE • objective

A bank's interest rate is given by r = 10 + 0.05t, where r is the interest rate and t is the time in years. If the bank wants to keep the interest rate below 15%, how many years will it take to reach this target?

Answer Options

A. 10 years
B. 20 years
Correct Answer C. 30 years
D. 40 years
Correct Answer
C
Correct Option:
30 years

About This Question

This is Post Utme Unilag 2019 Commerce Question 25. It is one of the objective questions from the 2019 Post Utme Unilag Commerce examination.

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