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

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Manager
Joined: 10 Oct 2008
Posts: 56
10,000 is deposited in a certain account that pays r percent [#permalink]

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05 Nov 2008, 19:27
\$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

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

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Manager
Joined: 30 Sep 2008
Posts: 111
Re: interest （30） [#permalink]

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05 Nov 2008, 23:29
(1) D(t) is the deposit grow in t years, D(t) = D(3) = 11,000 <--suff
(2) D(t) = 10,000 {1+(r/100)}t, we have both t = 3, r = 10, so D(t) can be caluculated <---suff

Ans: D

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Re: interest （30）   [#permalink] 05 Nov 2008, 23:29
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# 10,000 is deposited in a certain account that pays r percent

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