Waec Model Questions Vol1 2022 Commerce Question 34
Practice objective / multiple choice question 34 from the 2022 Waec Model Questions Vol1 Commerce examination.
A customer deposits ₦2,000,000 in a bank that offers a promotional interest rate of 9% per annum compounded semi‑annually for the first 2 years. After the promotional period the rate reverts to the standard 7% per annum compounded annually for the remaining 3 years. Calculate the amount in the account at the end of the 5‑year term.
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About This Question
This is Waec Model Questions Vol1 2022 Commerce Question 34. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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