If a man earns $420 interest in one year at 7%, what was the amount of money invested? A)$29.40 B)$60.00 C)$600.00 D)$6,000.00

asked Feb 20, 2019 25.2k views

2 votes

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

A)$29.40
B)$60.00
C)$600.00
D)$6,000.00

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5 votes

I(interest)=P(princple)R(rate)T(time)
I=420*.07*1=$29.4
A is correct.
Peace.

Charklewis answered Feb 24, 2019

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