Question

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



D???

Answer 1

How it compounds, do you know?

Answer 2

i=r*t*p.......i think interset rate time principal

Answer 3

$6000.00

Answer 4

thanks

Answer 5

I used "Pert" formula: \[P e^{rt}\]