slayer8001
  • slayer8001
If a man earns $420 interest in one year at 7%, what was the amount of money invested?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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slayer8001
  • slayer8001
the answers are $29.40 $60.00 $600.00 or 6000.00
anonymous
  • anonymous
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
anonymous
  • anonymous
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.

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slayer8001
  • slayer8001
6000.00?
anonymous
  • anonymous
no
slayer8001
  • slayer8001
oh so 600.00
anonymous
  • anonymous
its 29.40
anonymous
  • anonymous
No. It was 6,000.00 You had that right the first time,
slayer8001
  • slayer8001
but duck told me that it couldn't be any lower than 420
anonymous
  • anonymous
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.
anonymous
  • anonymous
read the ? look multiply 420*.07
anonymous
  • anonymous
Okay here is what I want you to do, Get a calculator and type 0.07 and multiply that by each of your answers.
anonymous
  • anonymous
ok
slayer8001
  • slayer8001
ok
anonymous
  • anonymous
nvm srry duck u were right its 6000
slayer8001
  • slayer8001
ok I did it and its 6000.00
slayer8001
  • slayer8001
ok thanks again duck

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