Intrest

Brent@GMATPrepNow: GMAT Instructor; Posts: 16207; Joined: Mon Dec 08, 2008 6:26 pm; Location: Vancouver, BC; Thanked: 5254 times; Followed by:1268 members; GMAT Score:770

Re: Intrest

by Brent@GMATPrepNow » Tue May 26, 2009 10:07 am

ST wrote:for some reason I am gettgin 11910. why answer is D?

Your answer would be correct if the question were written as a "compound interest" question.
However, this question uses "simple interest" where the interest is always calculated using the initial deposit/investment.

This means that one will continue to receive 6% interest ($600) every year.

Brent Hanneson - Creator of GMATPrepNow.com

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ST: Master | Next Rank: 500 Posts; Posts: 191; Joined: Sat Feb 14, 2009 11:56 am; Thanked: 1 times

Thank you

by ST » Tue May 26, 2009 10:09 am

Thank you. Got it.

ST

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