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Archive | Problem Solving

Compound Interest on the GMAT

First, a few practice problems.  Remember: no calculator! 1) If $5,000,000 is the initial amount placed in an account that collects 7% annual interest, which of the following compounding rates would produce the largest total amount after two years? (A) compounding annually (B) compounding quarterly (C) compounding monthly (D) compounding daily (E) All four of […]

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