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Mitch, thank you for your reply. I think your response clarified a point about compound interest that had previously escaped me. That the interest rate, regardless of how many times it is compounded and regardless of how many years over which it is applied, essentially remains the same from YEAR to ...
- by woodsy
Thu Dec 03, 2015 2:17 pm- Forum: Data Sufficiency
- Topic: Compound interest problem
- Replies: 3
- Views: 1971
Compound interest problem
Can someone help me solve this DS problem involving compound interest? At the start of 1997, Jane invested a sum of money with a fixed rate of interest, compounded quarterly over 3 years. What was the rate of interest? 1) At the end of 1998, Jane had $12,500 in her account (principal and interest) ...
- by woodsy
Thu Dec 03, 2015 8:43 am- Forum: Data Sufficiency
- Topic: Compound interest problem
- Replies: 3
- Views: 1971