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19 Jun 2016, 11:10
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Difficulty:
25%
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Question Stats:
80% (02:17) correct
20%
(02:27)
wrong
based on 96
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Dana borrows 5500 pounds annually for her college education. If Dana gives her parents 3% of that amount back each month, how much will she still owe her parents after four years of college?
A. 12,430.
B. 13,640.
C. 14,000.
D. 14,080.
E. 15,020.
A. 12,430.
B. 13,640.
C. 14,000.
D. 14,080.
E. 15,020.
FacelessMan
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19 Jun 2016, 12:49
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Bunuel : The question seems to be incorrect.
1. The answer choices are greater than 5500. Not possible.
2. Also 3% of x * 12 * 4 = 1.44x > x. So she should not owe anything after 4 years.
1. The answer choices are greater than 5500. Not possible.
2. Also 3% of x * 12 * 4 = 1.44x > x. So she should not owe anything after 4 years.
gauravsaggis1
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19 Jun 2016, 17:43
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dana borrows 5500 and returns 3% per month.
so returns 165 per month. and 1980 per year.
so dana owes 5500-1980=3520 per year.
after 4 years she will owe 14080.
Ans (D)
so returns 165 per month. and 1980 per year.
so dana owes 5500-1980=3520 per year.
after 4 years she will owe 14080.
Ans (D)
