Neco Model Questions Vol1 2022 Commerce Question 25
Practice objective / multiple choice question 25 from the 2022 Neco Model Questions Vol1 Commerce examination.
A fixed deposit of ₦500,000 earns 8 % per annum compounded semi‑annually for 3 years. After 18 months, the depositor withdraws half of the balance and reinvests it at 9 % per annum compounded quarterly for the remaining period. What is the total amount in the account at the end of the 3‑year term?
Answer Options
About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 25. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.