Question

(70 Points)

1. If $400 is invested at the rate of 6% for one year, what will be the total value of the investment (the amount)?

$42.40
$424.00
$4,240.00


2. If a man earns $420 interest in one year at 7%, what was the amount of money invested?

$29.40
$60.00
$600.00
$6,000.00

Answer 1

Answer for Q1 is B. 424.00

Answer for Q2 is D. 6,000.00 Because 420 times 100/ 7 times 1 is 6,000\

HOPE THIS HELPS!!

-Autumn Leaves