Between simple and compound interest, which will produce a greater interest at the end of the fifth period?
The simple interest on 200,000FCFA at a rate of 3% after 5 years is:
10,000 FCFA.
30,000 FCFA.
20,000 FCFA.
15,000 FCFA.
The rate at which 2,000,000 FCFA is invested for 2 years to yield an interest of 200,000 FCFA is:
4%.
2%.
5%.
10%.
Fote borrows 1,000,000frs in the bank at 12% per annum, how much will he pay the bank in 2 years?
Ngang borrows 1,000,000frs from the ‘njangi’ at 10% per annum compound interest, how much will he reimburse the ‘njangi’ in 2 years?
