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Word Problem

by sukhman » Sat Oct 19, 2013 7:40 am
Find the present value of the payments of$8400 to be received at the end of the first year and $8640 to be receive at the end the second year , if compound interest at 20% per year is reckoned .
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by theCodeToGMAT » Sat Oct 19, 2013 7:46 am
Are these two different question???

8400 = x (1+20/100)
8400/(1.2) = x = 7000

8640 = x(1+20/100)^2
8640/1.2*1.2 = x = 6000
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by Brent@GMATPrepNow » Sat Oct 19, 2013 8:08 am
sukhman wrote:Find the present value of the payments of$8400 to be received at the end of the first year and $8640 to be receive at the end the second year , if compound interest at 20% per year is reckoned .
Sorry, but this question doesn't make any sense to me.
Where did you get this latest batch of questions?
Also, where are the 5 answer choices?


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