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Answer: C
NEW QUESTION: 3
At the end of the year 2002, Monica and Chandler each purchased a certificate of deposit that paid the same rate of interest, and each held the certificate of deposit through the end of 2002. If Chandler invested X dollars and Monica invested $130,000, and if Chandler earned interest in 2002 totaling $45,000, what was the amount of interest that Monica earned on her $130,000 investment?
(1) The rate of interest on the certificate of deposit that Chandler and Monica each purchased was 8.5% annually.
(2) In 2002, Chandler invested $529,412 in the certificate of deposit.
A. Statements (1) and (2) TAKEN TOGETHER are NOT sufficient to answer the question, requiring more data pertaining to the problem.
B. Statement (2) BY ITSELF is sufficient to answer the question, but statement (1) by itself is not.
C. Either statement BY ITSELF is sufficient to answer the question.
D. Statement (1) BY ITSELF is sufficient to answer the question, but statement (2) by itself is not.
E. Statements (1) and (2) TAKEN TOGETHER are sufficient to answer the question, even though NEITHER statement BY ITSELF is sufficient.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
From statement (1) we know the rate of interest, so we can easily calculate how much Monica earned with her $130,000 deposit.
From statement (2) we know how much Chandler invested and we already know from the question how much he earned, we can calculate the interest and multiply it by the deposit that Monica made.
Therefore, both statements, by themselves, are sufficient to answer the question.
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SC-100 Exam Info
In case you haven’t done it yet, we strongly advise in reviewing the below. These are important resources related to the SC-100 Exam.
SC-100 Exam Topics
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SC-100 Offcial Page
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Check what resources you have available for studying.
Schedule the SC-100 Exam
Check when you can schedule the exam. Most people overlook this and assume that they can take the exam anytime but it’s not case.