Test: GMAT Math

1.

Tyler invests $20,000 in a certificate of deposit that draws compound interest. How frequently is the interest compounded - monthly, bimonthly, or quarterly?

Statement 1: The certificate draws 3.15% annual compound interest.

Statement 2: The certificate draws $638.33 the first year.

EITHER statement ALONE is sufficient to answer the question.

BOTH statements TOGETHER are sufficient to answer the question, but NEITHER statement ALONE is sufficient to answer the question.

Statement 2 ALONE is sufficient to answer the question, but Statement 1 ALONE is NOT sufficient to answer the question.

BOTH statements TOGETHER are insufficient to answer the question. 

Statement 1 ALONE is sufficient to answer the question, but Statement 2 ALONE is NOT sufficient to answer the question.

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