NBAA CPA Foundation Practice Questions - NBAA Certified Public Accountant (CPA) Foundation Level Exam

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A Tanzanian businessman invests TZS 10,000,000 in a fixed deposit account that pays a nominal interest rate of 12% per annum, compounded quarterly. What is the total value of the investment at the end of 3 years (to the nearest shilling)?

TZS 13,600,000 TZS 14,257,609 TZS 14,049,280 TZS 14,307,688

Correct Answer:

TZS 14,257,609

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