Waec Model Questions Vol1 2020 Economics Question 17
Practice objective / multiple choice question 17 from the 2020 Waec Model Questions Vol1 Economics examination.
A savings account offers a nominal interest rate of 12 % per annum, compounded annually. Expected inflation is 8 % for the first year and 10 % for the second year. If a person deposits ₦100,000 today, what will be the real purchasing power of the deposit after two years, expressed in today's Naira and rounded to the nearest Naira?
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About This Question
This is Waec Model Questions Vol1 2020 Economics Question 17. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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