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What is the interest earned on $400 invested at the rate of 6% for one year? Type a numerical answer in the space provided. Do not type spaces in your answer.

What is the interest earned on $400 invested at the rate of 6% for one year? Type a numerical answer in the space provided. Do not type spaces in your answer.
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2 votes
What is the interest earned on $400 invested at the rate of 6% for one year? Type a numerical answer in the space provided. Do not type spaces in your answer.

User Vignesh Vino
by
8.7k points

2 Answers

2 votes

Amount of Interest Earned-$400
--add 6% growth rate
$424 is the Interest Earned in ONE Year.


User Mick Cullen
by
7.7k points
4 votes
the interest earned on $400 at 6% would make it $424 so I would guess the interest earned on year one would be $24
User Potato
by
7.7k points
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