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

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Manager
Joined: 14 Jan 2006
Posts: 87
Schools: HKUST
10,000 is deposited in a certain account that pays r percent [#permalink]

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06 Oct 2008, 09:53
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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 is 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
Senior Manager
Joined: 04 Jan 2006
Posts: 276
Re: GMAT SET 18 - 2 [#permalink]

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06 Oct 2008, 11:03
nikhilpoddar 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 is 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

I think the answer is C.

We know t = 3 so, D(t) = 10,000*(1 + r%)*3

(1) Given D(t), the equation can be solved. Sufficient
(2) Given r, the equation can be solved. Sufficient
SVP
Joined: 17 Jun 2008
Posts: 1504
Re: GMAT SET 18 - 2 [#permalink]

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07 Oct 2008, 00:19
devilmirror wrote:
nikhilpoddar 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 is 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

I think the answer is C.

We know t = 3 so, D(t) = 10,000*(1 + r%)*3

(1) Given D(t), the equation can be solved. Sufficient
(2) Given r, the equation can be solved. Sufficient

I think, you meant D.
VP
Joined: 18 May 2008
Posts: 1203
Re: GMAT SET 18 - 2 [#permalink]

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07 Oct 2008, 00:29
Ans should be D. only thng is we need not solve (1). In fact D(t) itself is the answer
devilmirror wrote:
nikhilpoddar 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 is 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

I think the answer is C.

We know t = 3 so, D(t) = 10,000*(1 + r%)*3

(1) Given D(t), the equation can be solved. Sufficient
(2) Given r, the equation can be solved. Sufficient
Re: GMAT SET 18 - 2   [#permalink] 07 Oct 2008, 00:29
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# 10,000 is deposited in a certain account that pays r percent

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