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hsk
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an investement of d dollars a k percent simple annual 11 Jun 2007, 14:22
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an investement of d dollars a k percent simple annual interest yeilds $600 over a 2 year period. in terms of d, what dollar amount invested at the same rate will yeild $2,400 interest over a 3 year period.

2d/3

3d/4

4d/3

3d/2

8d/3


answer E (highlight to check, its in white)



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Hayabusa
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an investement of d dollars a k percent simple annual 11 Jun 2007, 14:33
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d will make us 300 in 1 year or 900 in 3 years.


in order to make 2400 in 3 ys -->> 2400d/900 = 8d/3
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hsk
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an investement of d dollars a k percent simple annual 11 Jun 2007, 14:37
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not sure i follow u...
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Hayabusa
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an investement of d dollars a k percent simple annual 11 Jun 2007, 14:50
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Since amount d is earning us simple interest, we can always find out hom much we can earn in 1, 2 3 etc years.

Ex $100 principal earns us 3% simple interest per yr.
In 1 year we make 3 bucks
In 2 years we make 6, in 3 years 9 etc.

In our case, we know that we make 600 in 2 years, so in 1 year we make 300, 900 in 3 years etc.

So, if d earns us 900 in 3 years, how much do we need in order to earn 2400 in 3 years?

d --- 900
x --- 2400

2400d/900 should do it :)
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an investement of d dollars a k percent simple annual 11 Jun 2007, 14:58
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dont we have to consider it?? or assign a # to it?
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an investement of d dollars a k percent simple annual 11 Jun 2007, 15:04
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No at all. All we wanna know is how much more cash we need.

There are plenty of ways to solve this. If I got this on the actual exam, I would figure out how much $ will d earn us in 3 years. We know it is 900.
Then I would just plug it in the possible answers to get 2400.



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Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
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