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Compounding interest question! - Fast!

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Compounding interest question! - Fast! [#permalink]

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New post 14 Dec 2017, 01:45
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Guys the question I will refer to, is this: https://gmatclub.com/forum/donald-plans ... fl=similar.

I would like to know why we take 4% for the 6th month.
If the interest is compounded querterly: the 3rd month we will take back a=(x*1.02) and then on the 6th month we will take back b=((x*1.02)*1.02) so it should be a+b=x+100.

Why it isn't?
[Reveal] Spoiler: OA

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Re: Compounding interest question! - Fast! [#permalink]

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New post 14 Dec 2017, 02:39
standyonda wrote:
Guys the question I will refer to, is this: https://gmatclub.com/forum/donald-plans ... fl=similar.

I would like to know why we take 4% for the 6th month.
If the interest is compounded querterly: the 3rd month we will take back a=(x*1.02) and then on the 6th month we will take back b=((x*1.02)*1.02) so it should be a+b=x+100.

Why it isn't?


This problem is discussed here: https://gmatclub.com/forum/donald-plans ... 82702.html If you have a question you should post in that thread and not start a new thread.
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Kudos [?]: 139676 [0], given: 12794

Re: Compounding interest question! - Fast!   [#permalink] 14 Dec 2017, 02:39
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