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If $1,000 is deposited in a certain bank account

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zaarathelab
 Post subject: Re: If $1,000 is deposited in a certain bank account
 Post Posted: Wed Oct 12, 2011 2:13 am 
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Students


Posts: 11
Statement 1: Equation has only one unknown. Also interest has to converge to a unique value as per the formula - hence SUFFICIENT

Statement 2: I first substituted 8 for r and found out that Interest(I) has to be > 176.4$. If i solve by substituting 1.15, I get Interest> 150$. I can be < or > than 176$. Hence INSUFFICIENT.
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RonPurewal
 Post subject: Re: If $1,000 is deposited in a certain bank account
 Post Posted: Sat Oct 15, 2011 3:01 am 
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ManhattanGMAT Staff


Posts: 7146
that's basically the deal.
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