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Global Stats
Source: Economist GMAT
Kevin deposited x hundred dollars in a bank that pays Y percent annual interest, where Y is a single-digit positive integer, compounded semi-annually. How much money will Kevin have in his account after one year?
$$A.\ 100x\cdot\left(1+\frac{0.0Y}{2}\right)^2$$
$$B.\ x\cdot\left(1+Y\right)^2$$
$$C.\ 2\cdot\left(x+0.Y\right)^2$$
$$D.\ x\cdot\left(1+0.Y\right)^2$$
$$E.\ x\cdot\left(1+0.0Y\right)^2$$
The OA is A
Kevin deposited x hundred dollars in a bank that pays Y percent annual interest, where Y is a single-digit positive integer, compounded semi-annually. How much money will Kevin have in his account after one year?
$$A.\ 100x\cdot\left(1+\frac{0.0Y}{2}\right)^2$$
$$B.\ x\cdot\left(1+Y\right)^2$$
$$C.\ 2\cdot\left(x+0.Y\right)^2$$
$$D.\ x\cdot\left(1+0.Y\right)^2$$
$$E.\ x\cdot\left(1+0.0Y\right)^2$$
The OA is A
