On a certain day, Tim invested $1,000 at 10 percent annual interest

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BTGmoderatorDC: Moderator; Posts: 7112; Joined: Thu Sep 07, 2017 4:43 pm; Followed by:23 members

On a certain day, Tim invested $1,000 at 10 percent annual interest

by BTGmoderatorDC » Wed Jan 25, 2023 4:25 am

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On a certain day, Tim invested $1,000 at 10 percent annual interest, compounded annually, and Lana invested 2,000 at 5 percent annual interest, compounded annually.The total amount of interest earned by Tim’s investment in the first 2 years was how much greater than the total amount of interest earned by Lana’s investment in the first 2 years?

A. $5
B. $15
C. $50
D. $100
E. $105

OA A

Source: GMAT Prep

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