Neco 2022 Commerce Question 19
Practice objective / multiple choice question 19 from the 2022 Neco Commerce examination.
A loan of \(\text{₦}2,000,000\) is taken at 12% per annum compounded annually for three years. After the first year the interest rate changes to 10% per annum for the remaining two years. What is the total amount payable at the end of the three‑year period?
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About This Question
This is Neco 2022 Commerce Question 19. It is one of the objective questions from the 2022 Neco Commerce examination.
Difficulty level: Medium .
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