Question Tag: Investment Calculation

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  • 1 Marks

BMF – Nov 2019 – L1 – SA – Q12 – Basics of Business Finance and Financial Markets

Calculating the annual compound interest rate from accumulated savings

Suppose Bonde invested N240,000 in a savings account that paid interest twice in a year. After 8 years, the money had accumulated to N380,980. What was the annual compound interest rate?
A. 3.64%
B. 4.75%
C. 5.86%
D. 6.65%
E. 6.76%

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  • 1 Marks

BMF – Nov 2019 – L1 – SA – Q11 -Basics of Business Finance and Financial Markets

Calculating the compound amount for a deposit using compound interest

Suppose N1 million is deposited in a money deposit bank that is paying 7.5% interest per annum compounded annually. What will be the compound amount at the end of the third year?
A. N1,242,300
B. N1,243,400
C. N1,344,500
D. N1,345,600
E. N1,446,700

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  • 1 Marks

BMF – Nov 2019 – L1 – SA – Q12 – Basics of Business Finance and Financial Markets

Calculating the annual compound interest rate from accumulated savings

Suppose Bonde invested N240,000 in a savings account that paid interest twice in a year. After 8 years, the money had accumulated to N380,980. What was the annual compound interest rate?
A. 3.64%
B. 4.75%
C. 5.86%
D. 6.65%
E. 6.76%

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Register

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  • 1 Marks

BMF – Nov 2019 – L1 – SA – Q11 -Basics of Business Finance and Financial Markets

Calculating the compound amount for a deposit using compound interest

Suppose N1 million is deposited in a money deposit bank that is paying 7.5% interest per annum compounded annually. What will be the compound amount at the end of the third year?
A. N1,242,300
B. N1,243,400
C. N1,344,500
D. N1,345,600
E. N1,446,700

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Find Related Questions by Tags, levels, etc.

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