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10,000 is deposited in a certain account that pays r percent

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10,000 is deposited in a certain account that pays r percent [#permalink]  15 Oct 2008, 16:38
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100% (01:04) correct 0% (00:00) wrong based on 1 sessions
$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??? Senior Manager Joined: 18 Jun 2007 Posts: 296 Followers: 2 Kudos [?]: 35 [0], given: 0 Re: DS--Interest [#permalink] 15 Oct 2008, 18:35 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? SVP Joined: 29 Aug 2007 Posts: 2493 Followers: 59 Kudos [?]: 579 [0], given: 19 Re: DS--Interest [#permalink] 15 Oct 2008, 20:08 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?

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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Re: DS--Interest [#permalink]  15 Oct 2008, 20:53
It may not make logical sense, but stmt1 says that D(t) is constant irrespective of t.

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Re: DS--Interest [#permalink]  16 Oct 2008, 06:27
scthakur wrote:
It may not make logical sense, but stmt1 says that D(t) is constant irrespective of t.

why? where does the question say t = 3?
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Re: DS--Interest [#permalink]  16 Oct 2008, 07:11
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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Re: DS--Interest [#permalink]  16 Oct 2008, 08:22
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?
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Current Student
Joined: 28 Dec 2004
Posts: 3387
Location: New York City
Schools: Wharton'11 HBS'12
Followers: 14

Kudos [?]: 186 [0], given: 2

Re: DS--Interest [#permalink]  16 Oct 2008, 09:13
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
Re: DS--Interest   [#permalink] 16 Oct 2008, 09:13
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