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Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.
Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.
  • a)
    Company X(5,000) - Company Y(10,000)
  • b)
    Company X(10,000) - Company Y(25,000)
  • c)
    Company X(10,000) - Company Y(80,000)
  • d)
    Company X(40,000) - Company Y(25,000)
  • e)
    Company X(67,000) - Company Y(80,000)
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Company X currently owes $200,000 on a business loan. Company Y curren...
The correct answer is $10,000 per year for Company X and $80,000 per year for Company Y.
If Company X repays its loan at a rate of $10,000 per year, in three years it will owe $170,000. If Company Y repays its loan at a rate of $80,000 per year, in three years it will also owe $170,000. After the fi rst three years, Company X will owe more on its loan than Company Y, until the loans are paid off.
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Community Answer
Company X currently owes $200,000 on a business loan. Company Y curren...
The correct answer is $10,000 per year for Company X and $80,000 per year for Company Y.
If Company X repays its loan at a rate of $10,000 per year, in three years it will owe $170,000. If Company Y repays its loan at a rate of $80,000 per year, in three years it will also owe $170,000. After the fi rst three years, Company X will owe more on its loan than Company Y, until the loans are paid off.
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Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.a)Company X(5,000) - Company Y(10,000)b)Company X(10,000) - Company Y(25,000)c)Company X(10,000) - Company Y(80,000)d)Company X(40,000) - Company Y(25,000)e)Company X(67,000) - Company Y(80,000)Correct answer is option 'C'. Can you explain this answer?
Question Description
Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.a)Company X(5,000) - Company Y(10,000)b)Company X(10,000) - Company Y(25,000)c)Company X(10,000) - Company Y(80,000)d)Company X(40,000) - Company Y(25,000)e)Company X(67,000) - Company Y(80,000)Correct answer is option 'C'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.a)Company X(5,000) - Company Y(10,000)b)Company X(10,000) - Company Y(25,000)c)Company X(10,000) - Company Y(80,000)d)Company X(40,000) - Company Y(25,000)e)Company X(67,000) - Company Y(80,000)Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.a)Company X(5,000) - Company Y(10,000)b)Company X(10,000) - Company Y(25,000)c)Company X(10,000) - Company Y(80,000)d)Company X(40,000) - Company Y(25,000)e)Company X(67,000) - Company Y(80,000)Correct answer is option 'C'. Can you explain this answer?.
Solutions for Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fi xed dollar amount per year that includes both interest and principle. If each company repays its loan at its fi xed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.Q. In the table below, identify the fi xed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.a)Company X(5,000) - Company Y(10,000)b)Company X(10,000) - Company Y(25,000)c)Company X(10,000) - Company Y(80,000)d)Company X(40,000) - Company Y(25,000)e)Company X(67,000) - Company Y(80,000)Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT. Download more important topics, notes, lectures and mock test series for GMAT Exam by signing up for free.
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