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Intrest

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Source: — Problem Solving |

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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Thank you

by ST » Tue May 26, 2009 10:09 am
Thank you. Got it.

ST
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