Neco Model Questions Vol1 2023 Commerce Question 23
Practice objective / multiple choice question 23 from the 2023 Neco Model Questions Vol1 Commerce examination.
A customer deposits N \(150,000\) in a bank account that pays 12 % per annum nominal interest compounded quarterly. After 18 months the customer withdraws N \(30,000\), and the remaining balance continues to earn interest at the same rate for another 2 years. What is the total amount in the account at the end of the 3.5‑year period?
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 23. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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