GMATinsight wrote:
Bunuel wrote:
Mr. Daniels deposits $10,000 in a savings certificate earning p percent annual interest compounded quarterly. What is the value ofp?
Combining thestatements
i.e.\(\frac{10000*p*(0.5)}{100} + 18 =10000*[1+ \frac{(0.25*p)}{100}]^2\)
Only one unknown hence
SUFFICIENT
Answer: OptionC
Combining thestatements
i.e.\(\frac{10000*p*(0.5)}{100} + 18 =10000*[1+ \frac{(0.25*p)}{100}]^2\)
Only one unknown hence
SUFFICIENT
Answer: OptionC
I cannot really follow the left part of the equation: isn't the left part of the equation the interest payment after 6 months whereas the right part is the total amount we receive after 6 months? IMO there should + 10018 instead of
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