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Compound interest is calculated on the principal, as well as on any interest already earned. Use compound interest when the question explicitly uses the term "Compound".Example:John takes out a $10,000 loan at an annual interest of 12%, compounded semiannually. what will be the balance of the loan at the end of the year?Notice the following:1) Interest rate = 12% annual2) Time - 1 year3) Compound - semiannually. Interest is calculated after six months, then again at the end of the year.

3 weeks ago

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That's pretty cool. Can I see an example?Sure.In the beginning of 1997, Priscilla invested $5,000 in a savings account that that pays 8% annual income, compounded quarterly. If Priscilla makes no further deposits into or withdrawals from the account, approximately how much money will she have in the account two years later, at the end of 1998?$800$858$5,800$5,858$10,000

3 weeks ago

admin

For interest questions, Notice the following three pieces of the puzzle:1) Interest rate - usually given as a %2) Time - How long the interest is calculated for.3) Compounded - Annually, semi-annually (every six months), quarterly, monthly.Simple Interest formula = Principal Rate TimeUse simple interest in the following cases:1) The question explicitly use the phrase "simple interest"2) The calculation time for the interest is shorter than the stated interest period. e.g. 12% annual interest calculated after a 6-month time period.

3 weeks ago

admin

Some GMAT questions will introduce the concept of interest earned on a Principal. These questions are easily identified by the use of the term "Interest" somewhere in the question (Duh!).We recognize two different kinds of interest - Simple interest, and Compound interest. Look for the following three pieces of the puzzle in the question:1) Interest rate - usually given as a %2) Time - How long the interest is calculated for.3) Compounded - Annually, semi-annually (every six months), quarterly, monthly.

3 weeks ago

admin

Stimulating BLANK demand, which is demand for the product class rather than a specific brand, if frequently the objective of promotions at the introduction stages of the product life cycle.

3 weeks ago

admin

A BLANK products life cycle does not have the characteristic shape, but instead shows growth, decline, and then reemergence months, years, or even decades later.

3 weeks ago

admin

During the Intro stage, pricing a product high is known as BLANK and pricing a product low is called BLANK

3 weeks ago

admin

In the BLANK stage of the product life cycle, the product gains acceptance, demand and sales increase, and there are more competitors

3 weeks ago

admin

During the BLANK stage of the product life cycle, sales for the product drop so a company often minimizes promotion.

3 weeks ago

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