- 1 Marks
QTB – Nov 2015 – L1 – SA – Q15 – Mathematics
This question calculates the accumulated amount from monthly deposits made in an account with no interest.
Question
An Accountant plans to give his wife a precious gift on her 50th birthday in 1½ years’ time. He intends to start with a deposit of N5 and doubles the amount every month throughout this period. Assuming no interest is paid on this account, determine the accumulated amount in this account at the end of this period:
A. N1,510,715
B. N1,410,715
C. N1,310,715
D. N1,210,715
E. N1,110,715
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