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 Starts Oct 17
Chris Peckover, Target Test Prep GMAT expert
LIVE ONLINE CLASSES

Get Ready for GMAT Test Day Faster with Live Online Classes

with Chris Peckover, 100th-Percentile GMAT Scorer

Oct 17 · Chris Peckover
Sat · 11:00 AM to 2:00 PM ET
Oct 20 · Chris Peckover
Tue, Thu · 8:00 to 10:00 PM ET
Oct 25 · Josh Braslow
Sun · 1:00 to 4:00 PM ET
Included
40 hours of live online classes + 6 months of TTP OnDemand
  • Attend the first class for free
  • Every class is recorded, so you never fall behind
View classes & enroll
Limited seats availableTarget Test Prep
EALiveTeachOnDemand 5 seats left Start anytime
EXECUTIVE ASSESSMENT

Target Test Prep EA OnDemand

Self-paced EA prep. Study on your schedule.

Logan Thompson
EXECUTIVE ASSESSMENT

Sep 6 to Dec 6, 2026

with Logan Thompson

165+ EA score guarantee
$05-day trial no automatic billing
Schedule
Sun · 9:30 AM to 12:30 PM ET
Included
40 hours of live online classes plus six months of access to the complete TTP EA OnDemand course.
  • 165+ EA Score Guarantee
  • 4,100+ Quant, Verbal, and Integrated Reasoning practice questions
  • 400+ hours of in-depth video lessons
  • 3,000+ step-by-step video solutions
View EA class & enroll Start free 5-day trial
Limited cohort · enrollment openTrial includes full course accessTarget Test Prep
GMATOnDemand Start anytime
SELF-PACED MASTERCLASS

Target Test Prep GMAT OnDemand

Complete access from day one. Study on your schedule.

715+ 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.

CI

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Senior | Next Rank: 100 Posts
Posts: 83
Joined: Sat Feb 26, 2011 11:22 amFollowed by: 1 member
Thanked: 1 times
by MI3 » Wed Jun 01, 2011 5:15 am
Q: Jolene entered an 18-month investment contract that guarantees to pay 2 percent interest at the end of 6 months, another 3 percent interest at the end of 12 months, and 4 percent interest at the end of the 18 month contract. If each interest payment is reinvested in the contract, and Jolene invested $10,000 initially, what will be the total amount of interest paid during the 18-month contract?
A. $506.00
B. $726.24
C. $900.00
D. $920.24
E. $926.24

I don't have the answer to this question, please opine.

Thanks,
M
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |
Legendary Member
Posts: 1448
Joined: Tue May 17, 2011 9:55 amFollowed by: 53 members
Location: India
Thanked: 375 times

by Frankenstein » Wed Jun 01, 2011 5:20 am
Hi,
Principal --- Interest
1.)10000 200(2%)
2.)10200 306(3%)
3.)10506 420.24(4%)
--------------------------
Interest = 926.24

Hence, E
Cheers!

Things are not what they appear to be... nor are they otherwise
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Senior | Next Rank: 100 Posts
Posts: 83
Joined: Sat Feb 26, 2011 11:22 amFollowed by: 1 member
Thanked: 1 times

by MI3 » Wed Jun 01, 2011 5:23 am
Hello Frankenstein,

I see that you have broken the problem in to three parts, each individually calculated using the formula PRT/100 (each applied for a six month duration). But, is there a direct formula that can be applied without breaking it up into parts?

Thanks,
M
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Legendary Member
Posts: 1448
Joined: Tue May 17, 2011 9:55 amFollowed by: 53 members
Location: India
Thanked: 375 times

by Frankenstein » Wed Jun 01, 2011 5:26 am
MI3 wrote:Hello Frankenstein,

I see that you have broken the problem in to three parts, each individually calculated using the formula PRT/100 (each applied for a six month duration). But, is there a direct formula that can be applied without breaking it up into parts?

Thanks,
M
Hi,
You can perhaps try 10000(1+0.02)(1+0.03)(1+0.04) - 10000.
But, logically both are same. I am not sure whether this is what you are looking for.
Last edited by Frankenstein on Wed Jun 01, 2011 6:04 am, edited 1 time in total.
Cheers!

Things are not what they appear to be... nor are they otherwise
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Senior | Next Rank: 100 Posts
Posts: 97
Joined: Sun May 15, 2011 9:19 amFollowed by: 1 member
Thanked: 18 times

by SoCan » Wed Jun 01, 2011 5:56 am
Frankenstein wrote:
MI3 wrote:Hello Frankenstein,

I see that you have broken the problem in to three parts, each individually calculated using the formula PRT/100 (each applied for a six month duration). But, is there a direct formula that can be applied without breaking it up into parts?

Thanks,
M
Hi,
You can perhaps try 10000(1+0.02)(1+0.03)(1+0.04) - 10000.
But, logically both are same. I am not sure if this is what you are looking for.
Yeah, the way I solved it was multiply (1.02)(1.03)(1.04) = 1.092624. Since the initial principal is 10,000, it's easy to spot the interest in dollars from there.

However, be careful - you can do it this way because the interest doesn't compound in the interim of each period, so even though the periods are of different lengths, it works out. If the interest compounded semiannually, you'd have a different answer because the second period is two 6 month periods.
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1