City Guilds Model Questions Vol1 2017 Information Technology Question 4
Practice objective / multiple choice question 4 from the 2017 City Guilds Model Questions Vol1 Information Technology examination.
In a spreadsheet, cell A1 holds the principal amount P = 150 000 ₦. Cells B1 and C1 contain annual interest rates r₁ = 5 % and r₂ = 7 % respectively, and cell D1 contains the number of years n = 4. The current formula in cell E1 is =P*(1+r1)*(1+r2)*(1+r1)*(1+r2). Replace this with a single formula that uses the POWER function to raise the average annual growth factor to the appropriate power, and state the future value obtained, rounded to the nearest naira.
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About This Question
This is City Guilds Model Questions Vol1 2017 Information Technology Question 4. It is one of the objective questions from the 2017 City Guilds Model Questions Vol1 Information Technology examination.
Difficulty level: Medium .
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