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# Compounded Interest-any shorcuts?

Author Message
Manager
Joined: 16 May 2011
Posts: 203

Kudos [?]: 98 [0], given: 37

Concentration: Finance, Real Estate
GMAT Date: 12-27-2011
WE: Law (Law)

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26 Jun 2011, 07:21
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

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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)
Attachments

CI_and_meanmedian.doc [170 KiB]

Kudos [?]: 98 [0], given: 37

Current Student
Joined: 08 Jan 2009
Posts: 323

Kudos [?]: 158 [0], given: 7

GMAT 1: 770 Q50 V46

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28 Jun 2011, 01:32
I don't think there is a shortcut, except for general estimation. Doesn't seem very GMATish...

Kudos [?]: 158 [0], given: 7

Re: Compounded Interest-any shorcuts?   [#permalink] 28 Jun 2011, 01:32
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