Question Tag: Investment Calculation

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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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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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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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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

Login or create a free account to see answers

Find Related Questions by Tags, levels, etc.