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10,000 is deposited in a certain account that pays r percent [#permalink]
 15 Oct 2008, 17:38
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$10,000 is deposited in a certain account that pays r percent annual interest compounded annually, the amount D(t), in dollars, that the deposit will grow to in t years in given by D(t)=10,000(1+(r/100))t What amount will the deposit grow to in 3 years?
(1) D(t) = 11,000
(2) r=10
what on earth does (1) say????? is D(t) a constant???
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Senior Manager
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I had same reaction WTH
question stem says that D(t) is the amount that will be in (t) years and statement. Question asks what is D(t) and st 1 says D(t) is 11000.
Am I again making some stupid mistake?
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fresinha12 wrote: $10,000 is deposited in a certain account that pays r percent annual interest compounded annually, the amount D(t), in dollars, that the deposit will grow to in t years in given by D(t) = 10,000 (1+(r/100))^t. What amount will the deposit grow to in 3 years?
(1) D(t) = 11,000
(2) r = 10
what on earth does (1) say????? is D(t) a constant??? Do you have this question in its original form? Seems B is the answer. 1: we do not know "t". D(t) = 11,000 could be in 5 years or 10 years or 100 years. so D(3) varies accordingly. so insuff......... 2: if r = 10, D(3) = 10,000 (1+(10/100))^3. so suff...
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It may not make logical sense, but stmt1 says that D(t) is constant irrespective of t.
Hence,answer should be D.
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scthakur wrote: It may not make logical sense, but stmt1 says that D(t) is constant irrespective of t.
Hence,answer should be D. why? where does the question say t = 3?
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well the OA is D..
I was debating if D(t) is a constant or not..and I think it is..
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CEO
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Current Student
Joined: 28 Dec 2004
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Location: New York City
Schools: Wharton'11 HBS'12
Followers: 11
Kudos [?]:
135
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GMAT TIGER wrote: fresinha12 wrote: well the OA is D..
I was debating if D(t) is a constant or not..and I think it is.. fresinha12, what is the source? dont know..just saw it in a collection of math questions online
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