Investment Calculation

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

Calculating the annual compound interest rate from accumulated savings

Question

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%

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Investment Calculation
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: NOV 2019

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

Calculating the compound amount for a deposit using compound interest

Question

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

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Investment Calculation
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: NOV 2019

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

Calculating the annual compound interest rate from accumulated savings

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Investment Calculation
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: NOV 2019

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

Calculating the compound amount for a deposit using compound interest

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Investment Calculation
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: NOV 2019

Question Tag: Investment Calculation

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

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

Calculating the annual compound interest rate from accumulated savings

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

Calculating the compound amount for a deposit using compound interest

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

Calculating the annual compound interest rate from accumulated savings

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

Calculating the compound amount for a deposit using compound interest

Our offerings

Contact Info

Customer

Get In Touch