Question

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

Answer 1

the answers are $29.40 $60.00 $600.00 or 6000.00

Answer 2

Well a simple way to do this, You are earning 7% of what you already have in there, so you can't have an answer that's lower than 420. so you can already get rid of A and B

Answer 3

That just leaves you with C and D to choose from, which one would you think that it would be? being that 7% of your answer is 420, you know it must be pretty big.

Answer 4

6000.00?

Answer 5

no

Answer 6

oh so 600.00

Answer 7

its 29.40

Answer 8

No. It was 6,000.00 You had that right the first time,

Answer 9

but duck told me that it couldn't be any lower than 420

Answer 10

I already told you, it can't be A/B those are lower than our original values therefore impossible to obtain from a 7% interest rate.

Answer 11

read the ? look multiply 420*.07

Answer 12

Okay here is what I want you to do, Get a calculator and type 0.07 and multiply that by each of your answers.

Answer 13

ok

Answer 14

ok

Answer 15

nvm srry duck u were right its 6000

Answer 16

ok I did it and its 6000.00

Answer 17

ok thanks again duck