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Jun 1006:00 AM PDT
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Register for the GMAT Club Virtual MBA Spotlight Fair – the world’s premier event for serious MBA candidates. This is your chance to hear directly from Admissions Directors at nearly every Top 30 MBA program..
03 Aug 2024, 11:00
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C
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Difficulty:
15%
(low)
Question Stats:
84% (01:21) correct
16%
(01:00)
wrong
based on 38
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A man deposits $1,000 in a bank at 10% annual interest, compounded semi-annually. How much money does he have in the bank at the end of the first year?
A. $1,000.00
B. $1,100.00
C. $1,102.50
D. $1,050.00
E. $1,102.00
A. $1,000.00
B. $1,100.00
C. $1,102.50
D. $1,050.00
E. $1,102.00
03 Aug 2024, 11:41
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1000(1 + 10/200)^2
1000(21/20)^2
1000(21 X 5/100)^2
105^2/10000 X 1000
11025/10
1102.5
Answer C
Adewale Fasipe, GMAT quant instructor Lagos Nigeria.
1000(21/20)^2
1000(21 X 5/100)^2
105^2/10000 X 1000
11025/10
1102.5
Answer C
Adewale Fasipe, GMAT quant instructor Lagos Nigeria.
