Waec Model Questions Vol1 2021 Commerce Question 39
Practice objective / multiple choice question 39 from the 2021 Waec Model Questions Vol1 Commerce examination.
A businessman borrows ₦500,000. For the first two years the interest rate is 12 % per annum compounded quarterly; thereafter, for the remaining three years, the rate changes to 10 % per annum compounded quarterly. What is the total amount payable at the end of the five‑year period? Give your answer in naira, rounded to the nearest naira.
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About This Question
This is Waec Model Questions Vol1 2021 Commerce Question 39. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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