GMAT Problem Solving

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Source: GWD

Level: 0

On January 1, 1994, Jill invested P dollars in an account that pays interest at a rate of 8 percent per year, compounded annually on December 31. If there were no other deposits or withdrawals in the account, how many dollars were in the account on January 1, 1998, in terms of P?

  • A 0.32P
  • B 4.32P
  • C P
  • D P
  • E

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