BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Target Test Prep · GMAT

Choose how you want to prepare

Learn live with an expert or move at your own pace. Every option includes the complete TTP study system.

★★★★★5.0559 reviews
GMATLiveTeach 7 seats left
Chris Peckover
NEXT LIVE COHORT

Oct 13 to Jan 7, 2027

with Chris Peckover

Schedule
Tue, Thu · 8:00 to 10:00 PM ET
Included
40 live hours + 6 months of GMAT OnDemand
  • Live instruction and real-time questions
  • Class recordings and assigned practice
View class & enroll
Limited cohort · enrollment openTarget Test Prep
EALiveTeach 5 seats left
Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

Schedule
Sun · 9:30 AM to 12:30 PM ET
Included
Live EA class + 6 months of EA OnDemand
  • Expert-led weekly online sessions
  • EA Masterclass access between classes
View EA class & enroll
Limited cohort · enrollment openTarget Test Prep
GMATOnDemand Start anytime
SELF-PACED MASTERCLASS

Target Test Prep GMAT OnDemand

Complete access from day one. Study on your schedule.

130-point score guarantee
$0to start then $127/mo
  • Personalized study plan and analytics
  • Thousands of lessons and practice questions
Start free 5-day trial
Read 559 reviewsTarget Test Prep

Compare the format, schedule, and included access before enrolling. Prices and seat counts shown reflect the supplied offer details.

Amy deposits \(\$100\) into an account that pays \(8\%\) interest, compounded semiannually. She makes no other deposits

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Legendary Member
Posts: 1622
Joined: Thu Mar 01, 2018 7:22 amFollowed by: 2 members
by Gmat_mission » Thu Nov 19, 2020 11:24 am

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty—

Amy deposits \(\$100\) into an account that pays \(8\%\) interest, compounded semiannually. She makes no other deposits or withdrawals. Which of the following expresses the amount of money the account will contain in \(2\) years?

A. \(\$100 \cdot (1 + .04)^2\)

B. \(\$100 \cdot (1 + .04)^4\)

C. \(\$100 \cdot (1 + .04)^6\)

D. \(\$100 \cdot (1 + .08)^2\)

E. \(\$100 \cdot (1 + .08)^6\)

Answer: B

Source: Princeton Review
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 8175
Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members
Location: Los Angeles, CA
Thanked: 43 times

Re: Amy deposits \(\$100\) into an account that pays \(8\%\) interest, compounded semiannually. She makes no other depos

by Scott@TargetTestPrep » Wed Nov 25, 2020 8:30 am
Gmat_mission wrote: ↑
Thu Nov 19, 2020 11:24 am
 Amy deposits \(\$100\) into an account that pays \(8\%\) interest, compounded semiannually. She makes no other deposits or withdrawals. Which of the following expresses the amount of money the account will contain in \(2\) years?

A. \(\$100 \cdot (1 + .04)^2\)

B. \(\$100 \cdot (1 + .04)^4\)

C. \(\$100 \cdot (1 + .04)^6\)

D. \(\$100 \cdot (1 + .08)^2\)

E. \(\$100 \cdot (1 + .08)^6\)

Answer: B

Solution:

We can use the compound interest formula:

A = P(1 + r/n)^(nt)

Here, P = 100, r = 8% = 0.08, n = 2 (because semiannually), and t = 2. Therefore, we have:

A = 100(1 + 0.08/2)^(2 x 2)

A = 100(1 + 0.04)^4

Answer: B

Scott Woodbury-Stewart
Founder and CEO
[email protected]

Image

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews

ImageImage
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1