GMAT Problem Solving

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Source: GWD

Level: 0

On a certain day, Tim invested $1,000 at 10 percent annual interest, compounded annually, and Lana invested $2,000 at 5 percent annual interest, compounded annually. The total amount of interest earned by Tim's investment in the first 2 years was how much greater than the total amount of interest earned by Lana's investment in the first 2 years?

  • A 5
  • B 15
  • C 50
  • D 100
  • E 105

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