Gce Model Questions Vol1 2023 Commerce Question 40
Practice objective / multiple choice question 40 from the 2023 Gce Model Questions Vol1 Commerce examination.
A customer deposits \(\text{₦}500{,}000\) in a savings account that offers a nominal annual interest rate of 4% compounded quarterly. The bank deducts a maintenance fee of \(\text{₦}1{,}200\) at the end of each quarter. What is the account balance after one year?
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 40. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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