Check GMAT Club Decision Tracker for the Latest School Decision Releases https://gmatclub.com/AppTrack

It is currently 29 May 2017, 09:49

Close

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.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A sum of $3310 is to be paid back in 3 equal installments.

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Manager
Manager
User avatar
Joined: 27 Jul 2011
Posts: 180
Followers: 1

Kudos [?]: 230 [0], given: 103

A sum of $3310 is to be paid back in 3 equal installments. [#permalink]

Show Tags

New post 21 Apr 2013, 23:27
4
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

66% (02:39) correct 34% (01:34) wrong based on 139 sessions

HideShow timer Statistics

A sum of $3310 is to be paid back in 3 equal installments. How much is each installment if the interest is compounded annually at 10% per annum.

A. 1311
B. 1331
C. 1103
D. 2331
E. 2311
[Reveal] Spoiler: OA

_________________

If u can't jump the 700 wall , drill a big hole and cross it .. I can and I WILL DO IT ...need some encouragement and inspirations from U ALL


Last edited by Bunuel on 21 Apr 2013, 23:39, edited 2 times in total.
Renamed the topic and edited the question.
Expert Post
1 KUDOS received
Math Expert
User avatar
P
Joined: 02 Sep 2009
Posts: 39051
Followers: 7755

Kudos [?]: 106554 [1] , given: 11628

Re: A sum of $3310 is to be paid back in 3 equal installments. [#permalink]

Show Tags

New post 21 Apr 2013, 23:34
1
This post received
KUDOS
Expert's post
sujit2k7 wrote:
A sum of $3310 is to be paid back in 3 equal installments. How much is each installment if the interest is compounded annually at 10% per annum.

A. 1311
B. 1331
C. 1103
D. 2331
E. 2311


Similar question:
Quote:
Louie takes out a three-month loan of $1000. The lender charges him 10% interest per month compunded monthly. The terms of the loan state that Louie must repay the loan in three equal monthly payments. To the nearest dollar, how much does Louie have to pay each month?

A. 333
B. 383
C. 402
D. 433
E. 483


Discussed here: louie-takes-out-a-three-month-loan-of-1000-the-lender-101506.html

Hope it helps.
_________________

New to the Math Forum?
Please read this: All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Re: A sum of $3310 is to be paid back in 3 equal installments.   [#permalink] 21 Apr 2013, 23:34
    Similar topics Author Replies Last post
Similar
Topics:
2 Peter invests a sum of money and gets back an amount of $ 815 in 3 yea HARRY113 1 18 Jul 2016, 00:23
2 Experts publish their posts in the topic Ann invested a certain sum of money in a bank that paid simple interes Bunuel 6 18 May 2017, 12:31
3 Experts publish their posts in the topic A certain debt will be paid in 52 installments from January 1 to Decem Bunuel 7 16 May 2017, 18:18
7 Experts publish their posts in the topic A sum of $3310 is to be paid back in 3 equal installments. How much is earnit 4 21 Dec 2014, 19:31
179 Experts publish their posts in the topic The sum of four consecutive odd numbers is equal to the sum bindiyajoisher 32 20 Apr 2017, 06:32
Display posts from previous: Sort by

A sum of $3310 is to be paid back in 3 equal installments.

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.