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Compounded Interest-any shorcuts?

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Manager
Manager
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Joined: 16 May 2011
Posts: 204
Concentration: Finance, Real Estate
GMAT Date: 12-27-2011
WE: Law (Law)
Followers: 1

Kudos [?]: 87 [0], given: 37

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Compounded Interest-any shorcuts? [#permalink]

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New post 26 Jun 2011, 07:21
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let's say an amount of 1500$ is deposited at annual interest of 4.3% compounded quarterly.
what's the balance after 6 years:

1500(1+0.043/4)^4*6-

how do i calculate 1.1075^24?

attached Doc in regards to CI
(i believe there are no Copy .R)
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CI_and_meanmedian.doc [170 KiB]
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Current Student
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Joined: 08 Jan 2009
Posts: 326
GMAT 1: 770 Q50 V46
Followers: 25

Kudos [?]: 146 [0], given: 7

Re: Compounded Interest-any shorcuts? [#permalink]

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New post 28 Jun 2011, 01:32
I don't think there is a shortcut, except for general estimation. Doesn't seem very GMATish...
Re: Compounded Interest-any shorcuts?   [#permalink] 28 Jun 2011, 01:32
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Compounded Interest-any shorcuts?

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