Post Utme Veritas University 2024 Commerce Question 32

Practice objective / multiple choice question 32 from the 2024 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2024 Commerce Objective / Multiple Choice
Question 32 POST_UTME_VERITAS_UNIVERSITY • 2024 • COMMERCE • objective

A bank offers a credit card with an interest rate of 18% per annum. If the customer's outstanding balance is ₦20,000 and the interest is compounded monthly, what is the total amount the customer will owe after 6 months?

Answer Options

Correct Answer A. ₦24,919.19
B. ₦25,000.00
C. ₦25,119.19
D. ₦25,200.00
Correct Answer
A
Correct Option:
₦24,919.19

About This Question

This is Post Utme Veritas University 2024 Commerce Question 32. It is one of the objective questions from the 2024 Post Utme Veritas University Commerce examination.

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