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02 Jul 2004, 01:45
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An investor buys a bond of a certain company for $1000 and leaves for a one-year vacation. At the moment of buying, the bonds are going to increase at the annual rate of 8% compounded quarterly. However, after the first quarter, the investment starts losing its value at the same rate. When the investor is back, what the difference (rounded to dollars) he will see between expected and real balances?
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02 Jul 2004, 02:08
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I hope i understood this correctly -
Expected = 1000*1.02^4 = 1082
Real = 1000*1.02*(0.98)^3 = 960
Expected - Real = 1082-960 = 122.
I hope i am wrong because the calculations here are very time consuming.
It doesn't look like a GMAT question.
Expected = 1000*1.02^4 = 1082
Real = 1000*1.02*(0.98)^3 = 960
Expected - Real = 1082-960 = 122.
I hope i am wrong because the calculations here are very time consuming.
It doesn't look like a GMAT question.
02 Jul 2004, 10:14
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This is not a GMAT-like question.
This sort of question is being tested on CFA, where it takes 10 seconds to solve, but you're given a calculator as well.
This sort of question is being tested on CFA, where it takes 10 seconds to solve, but you're given a calculator as well.
CFA type indeed. Did you write the exam in June Iastoscka? 
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