Waec Model Questions Vol1 2017 Commerce Question 48
Practice objective / multiple choice question 48 from the 2017 Waec Model Questions Vol1 Commerce examination.
A businessman obtains a loan of ₦1,200,000 from a bank at a nominal annual interest rate of 18% compounded quarterly. He will repay the loan in equal quarterly installments over 2 years. What is the amount of each quarterly installment? Round to the nearest Naira.
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About This Question
This is Waec Model Questions Vol1 2017 Commerce Question 48. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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