Maria deposits $10,000 in a bank. What is the annual : DS Archive Check GMAT Club Decision Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack  It is currently 19 Jan 2017, 18:05 GMAT Club Daily Prep Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email. Customized for You we will pick new questions that match your level based on your Timer History Track Your Progress every week, we’ll send you an estimated GMAT score based on your performance Practice Pays we will pick new questions that match your level based on your Timer History Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here. Request Expert Reply Events & Promotions Events & Promotions in June Open Detailed Calendar Maria deposits$10,000 in a bank. What is the annual

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Maria deposits $10,000 in a bank. What is the annual [#permalink] Show Tags 24 Aug 2003, 22:34 00:00 Difficulty: (N/A) Question Stats: 0% (00:00) correct 100% (00:12) wrong based on 2 sessions HideShow timer Statistics This topic is locked. If you want to discuss this question please re-post it in the respective forum. Maria deposits$10,000 in a bank. What is the annual interest which the bank will pay to Maria?

(1) The interest must be paid once every six months.

(2) The rate of interest is 4%.

I will only say...Dont guess the obvious !

Thanks
Praetorian
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25 Aug 2003, 02:04
Is the answer E????

since we don't know whether it's simple or compound interest
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25 Aug 2003, 05:19
Another vote for E ..
we know interest rate is 4% but we don't know if it is annual rate or monthly rate 6-mos rate ..
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Brainless

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25 Aug 2003, 16:32
Brainless wrote:
Another vote for E ..
we know interest rate is 4% but we don't know if it is annual rate or monthly rate 6-mos rate ..

Just to be sure...If the interest is to be paid every six months, dont you think the interest is compounded semi-annually?

Your Bank will add interest to your account every six months !

I know we cant assume, pitch in with your opinions.

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Praetorian
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25 Aug 2003, 16:51
praetorian123 wrote:
Brainless wrote:
Another vote for E ..
we know interest rate is 4% but we don't know if it is annual rate or monthly rate 6-mos rate ..

Just to be sure...If the interest is to be paid every six months, dont you think the interest is compounded semi-annually?

Your Bank will add interest to your account every six months !

I know we cant assume, pitch in with your opinions.

Thanks
Praetorian

Oops !! I did it again .. My bad ..
I would say 'C' now ..

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Brainless

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26 Aug 2003, 06:41
But will the bank add interest on the original amount or the amount after it's added the interest for six months?

Do we know that?
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26 Aug 2003, 17:00
hey

do we have a definite answer here..

can Akamai help

thanks

praetorian
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26 Aug 2003, 23:27
I think we have all the information to answer the question and the right choice is (C)

(1) says that "The interest must be paid once every six months"

To my mind "must be paid" indicates that the money are paid to Maria directly and not accrued on her account.

So, we have simple interest and can answer the question.
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27 Aug 2003, 06:50
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Way too many assumptions, we could argue underlying meanings all day.

This question is out.
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27 Aug 2003, 06:50
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Maria deposits \$10,000 in a bank. What is the annual

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